Ministry of Energy: The price of gasoline is dictated by market conditions
Tashkent, Uzbekistan (UzDaily.com) -- Prices for AI-80 gasoline are held back due to interventions in the domestic market. This was reported by the press service of the Ministry of Energy of Uzbekistan. At the same time, the prices for gasoline grades Ai-91, Ai-92, Ai-95 depend on the situation on the world oil market.
In the message of the Ministry of Energy, it is noted that since 2017, the sale of gasoline in Uzbekistan has been transferred through the relevant exchange trading and, in this regard, is formed according to market principles.
“The practice of setting prices for gasoline has been discontinued, a healthy competitive environment has been formed, and the supply of quality products at prices acceptable to consumers has been established,” the Ministry notes.
At present, more than 10 sellers offer gasoline of grades Ai-92, Ai-93, Ai-95 and Ai-98, Ai-91 and Ai-80 through the auction.
The ministry notes that in connection with the liberalization of this market, at present, in addition to domestic oil products, imported products are presented at filling stations and the demand in the domestic market is growing.
"At the same time, for the purpose of social protection of the population at gas stations of Uzbekneftegaz, prices are being kept down, despite global trends towards strong growth, for Ai-80 gasoline as the main consumed product (more than 78%)," the Ministry of Energy said.
It is worth noting the rise in oil prices in the world, currently it has grown by 15-20 percent. So, according to the analysis, today in the world the price of quotations for Brent crude oil on the stock exchanges has grown to US$80-81 per barrel. At the same time, 1 liter of basic products - AI-80 gasoline is sold at filling stations at a retail price of 5800 - 6100 soums. The sales situation is being monitored.
Thus, a number of decisions were made in order to solve the issues of providing gasoline in the republic in the context of the transition to market principles, including through the supply of finished petroleum products.
It should be noted that the bulk of gasoline, namely the grades Ai-91, Ai-92, Ai-95, is produced from imported raw materials. That is, the pricing of domestic gasoline is necessarily influenced by changes in world quotations, which are formed based on market conditions.