Petroleum products prices grew by 10 drams per liter in the first ten days of December in Armenia despite global trend of falling oil prices.
According to ArmInfo's monitoring of the field, Super AI 98 petrol price was up to 510 drams per liter, Premium AI 95 - to 480 drams per liter, Regular AI 91 - reached 460 drams per liters, while diesel and euro-diesel now cost 470 drams and 490 drams per liter, respectively.
Specialists link the growing petroleum prices in Armenia with the ongoing price hikes in Russia, as Armenia has been purchasing oil products overwhelmingly from Russia since Feb 2014. The growing prices of petroleum in Russia amid global trend of falling oil prices seems to have alarmed also President of Russia Vladimir Putin, who gave orders to clear up the situation.
Meanwhile, the Armenian public was anticipating certain reduction of petroleum products prices after Russia and Armenia signed an intergovernmental agreement canceling export levies on the oil products, gas and unpolished diamonds for Armenia. At least, Armenian officials were forecasting benefits for Armenia and reduction of petroleum prices in the domestic market. When Armenia was importing petrol overwhelmingly from Europe, the situation was more predictable and domestic prices were changing in line with the global trends.