2024-02-17 02:28:24
The Commission for the Protection of Competition always focuses on price fluctuations in the gasoline market. It should be noted that gasoline pricing is determined by a number of circumstances, in particular, gasoline price changes in international markets, foreign currency fluctuations, as well as transportation costs, etc.
The commission’s studies showed that the average import price of 1 liter of regular gasoline was 0.41 cents in January 2023, and 0.8 cents in September. In addition, in January 2023, the exchange rate was on average 390 drams, and on average it was 414 drams in October.
Based on the above, we can state that the increase in the price of gasoline is conditioned by the increase in the import price and a certain increase in the dollar exchange rate. It should also be noted that gasoline prices are constantly fluctuating due to the above-mentioned factors, and in the months of January-August 2022, the price of regular gasoline varied between 500-520 drams, and the price of premium gasoline varied between 520-540 drams. Meanwhile, in the months of January-May 2023, due to the low price of imports and the devaluation of the dram, the price of regular gasoline varied between 320-350 drams, and the price of premium – 350-370 drams.
Thus, due to changes in gasoline prices in international markets, including changes in the dollar exchange rate, there are constant fluctuations in the gasoline market, as a result of which the market may have relatively low prices in some months, and high prices in some months.
It should also be noted that the Commission regularly considers the adequacy of factors affecting the price of gasoline and price fluctuations. Proceedings are initiated if violations of the competition law are discovered.