Armenian expert forecasts petrol price rise

ArmInfo. Energy security expert, Doctor of Political Sciences Vahe Davtyan predicts a certain increase in gasoline prices in Armenia in the coming days. The basis for this forecast was the decision of the Russian government, which banned the export of gasoline from the country until August 31 of  this year.

"It is noteworthy that if in February the government banned exports  to traders and oil depots, then with this decision the ban also  applies to manufacturing companies. Thus, we are talking about a  complete embargo.  The decision was made to ensure a stable situation  on the domestic fuel market in the context of increased demand during  the agricultural season," the expert emphasized on his Facebook page.

He added that given that the "lion's share" of gasoline consumed in  Armenia is imported from Russia, a certain increase in prices can be  predicted in the coming days - a trend that will continue after  August.  "This scenario can be avoided if Russia, as in 2023, eases  the embargo on oil product exports to Armenia.  Yes, Russia set  quotas for Armenia and other EAEU countries, but gasoline imports  were limited. Armenia was forced to turn to Moscow for additional  supplies. As a result, an additional 15 thousand tons of gasoline and  20 thousand tons of diesel fuel were delivered," Vahe Davtyan  recalled.

According to the RA Customs Committee, in 2024, oil product imports  to Armenia decreased by 16.4% compared to the previous year,  amounting to 219.5 thousand tons. At the same time, the customs value  decreased by 10%, reaching $209.7 million. Russia remains the main  supplier of oil products to Armenia, accounting for 79.8% of all oil  product imports.