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Regional

In Jan-Mar 2012 petrol price in Armenia grew by 11.2%

  • Tuesday, March 27, 01:28

Last week saw one more growth in the petrol price: on Friday, Mar 23, the price jumped by 20 AMD.

Today, Mar 26, Super AI 98 costs 540 AMD per liter, Premium AI 95 510 AMD, Regular AI 91 490 AMD, Diesel fuel 460 AMD. 

Deputy Director of the Flash company (Armenia's biggest oil trader) Mushegh Elchyan told ArmInfo that this is a response to global growth in fuel prices.

"In Armenia the growth is lower. For example, this year the petrol price in the world has grown by 22.5% against 11.2% in Armenia. If the global trend continues, next month we will see one more 20-30 AMD rise," Elchyan said.

He said that in Armenia petrol is cheaper than in Georgia. "The reason is that in Georgia oil traders earn more money and pay more taxes, while in Armenia, unlike its neighbors, almost 80% of motor cars already use gas, with only rich car owners still able to use petrol. As a result, petrol imports are declining, and this is forcing us to curb petrol prices," Elchyan said.

Armenia's Customs Service reports that in 2011 oil product imports dropped from 379,000 tons to 357,661 tons, while car imports grew from 17,000 to 26,400.

The biggest petrol importers in Armenia are Flash, City Petrol Group, Mika Corporation and Max Oil.

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