State Oil Company of Azerbaijan (SOCAR) has explained the reasons of rise in petrol prices. SOCAR claims that AI-98 petrol has never been produced in Azerbaijan and its retail price has never been regulated by the state.
As far as rise in AI 95 petrol price from April 1, 2014 is concerned, there was a considerable growth of consumption of high-octane petrol has inside the country and the current production capacities cannot meet the level of consumption. Therefore, AI-95 petrol production was suspended at the Heydar Aliyev oil refinery to repair and upgrade its installations. After the repair the oil refinery will resume petrol production, SOCAR promised.
SOCAR also refuted the reports that prices went up, because SOCAR bought assets of oil refineries abroad and it is going to deliver products from those plants to the Azerbaijani market. SOCAR claims, however, that it does not own shares of any oil refineries abroad.
Rise in prices of AI-95 Premium and AI-98 types of petrol “will allow the oil traders importing high quality products and satisfying the market’s needs on conditions of healthy competition and free market.”
Price of AI 95 petrol is 0.93 AZN per liter now against previous 0.80 AZN. From December 3, 2013 the prices went up by 33%.
