15:44 - 12.07.2023

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July 12, Fineko/abc.az. "Those who express an opinion about the reduction of gasoline prices in Azerbaijan are mistaken. As gasoline AI-92 is produced on standard ‘auto-2’. The modernization process of the Heydar Aliyev Oil Refinery, which began in 2015, intensified after 2018. In the coming years, the goal is to produce fuel that meets the Euro-5 standard.

ABC.AZ reports that Ilham Shaban, the head of the Center for Petroleum Research, informed about this.

He added that capital investments in the amount of AZN 4 bn were made for the plant.

Today, the price of gasoline on the world market is quite high, and so much capital has been invested in the plant.

But can AI-92 gasoline and other brands become cheaper now?

Answering the question, our interlocutor said that this is impossible, and noted that prices for both diesel fuel and gasoline of lower quality will increase:

"But the price of AI-95 will decrease. There are two reasons for increase in prices for gasoline and diesel fuel of AI-92 brand. The first relates to operations, which are a higher-quality and expensive process. And secondly, the excessive capital costs of the refinery should be returned at the expense of something. That is, these funds should be deducted from the consumer."