Socar president says increase in gasoline prices “normal”

Socar President Rovnaq Abdullayev said the recent increase in gasoline prices in Azerbaijan was “normal”.“I think it is normal since gasoline prices were last increased seven years ago,” Abdullayev told reporters today in Istanbul.Abdullayev said Azerbaijan’s state budget needs more revenue as social spending is growing every year.“An increase in budget revenue will help implement more social programs,” he said. “We are trying to bring (the quality) of our oil products closer to European standards. Our diesel now meets European standards. We can only bring (the quality) of our gasoline to European standards by making large investments and building new plants.”The Tariff Council decided on December 2 to increase the prices by about 30 percent.A liter of gasoline AI-95 sold for 0.60 AZN now costs 0.80 AZN, and the AI-92 and AI-80 gasoline sold for 0.55 AZN now costs 0.70 AZN per liter.One US dollar is equal to 0.7844 AZN according to Dec. 3 official exchange rate.

The tariff for natural gas sales to companies rose to 80 AZN per 1,000 cubic meters.

ANN.Az