Gasoline Prices to Go Up Again in Armenia

Companies that import and sell gas in Armenia connect raising the cost of petrol (gasoline) in Armenia with the recorded global increase in price one month before.

In a phone conversation with Tert.am, local company Flesh Deputy Director Mushegh Elchyan said that the company had for the previous month been working with losses.

“For some time, we tried not to raise prices hoping that the price fluctuation would be temporary but it turned out that the trend continued,” said Elchyan, pointing to his own calculations which figure that there’s been an 8% increase in the price of diesel fuel in the world market in the past month, while, in Armenia, it wasn't even 3%.

“If within the coming 10 days, there is no decrease in price of gasoline in the world market, it is likely that we will raise the price again. Today we are selling it almost at cost price,” said Elchyan.

Maxhur LLC, another Armenian importer, also pointed to the same factor as the reason for the rise in gasoline prices. The company’s representative told Tert.am that they were about to raise the price a month ago but were able to delay it as they had some gasoline purchased earlier at a lower price.