Gasoline prices in Azerbaijan on the rise

However, economist Natig Jafarli thinks that the increase in the gasoline prices in Azerbaijan has nothing to do with changes in global market prices but is based on the “monopoly” of SOCAR in the country.

“Only SOCAR-affiliated companies bring premium gasoline to the country, so they can dictate the price as they want. There is no price competition in the country.

For example, in Georgia, premium gasoline is offered at different prices at different filling stations. It is offered at different prices because it is not regulated by the state. In some places it is 0.05-0.10 GEL cheaper, and in others it can be higher. In our case, this process is controlled from one center which leads to a monopoly.”

The economist thinks that it is incorrect to link the price increase with rising oil prices on the global market and he adds that although the economy in the country won‘t be affected from the price increase, the middle class, the lower middle class and especially new car owners will suffer as they have to use EU-5 fuel.