MP says Azerbaijan will produce AI-95 and Premium

Changes in the world fuel market are sometimes driven by global political processes, Member of the Milli Majlis Nagif Hamzayev told Report.

According to him, the demand for high-octane gasoline is growing against the background of the current political causes, conflicts, processes around Iran, Russia-US relations, and strained relations: "As a result, there is an increase in the price of gasoline and oil in this category."

The MP said that new plants are planned to be built in Azerbaijan to eliminate dependence on price changes in the international fuel market: "According to my information, as a result of the modernization of the Heydar Aliyev Oil Refinery of the State Oil Company of Azerbaijan (SOCAR), the production of AI-95 and Premium gasoline will be possible next year. This will free us from dependence on the international fuel market, and the state will be able to regulate this brand of gasoline."

Hamzayev noted that in general, we must take into account that the price of this brand of gasoline is still low in Azerbaijan compared to neighboring countries:

"But in any case, we must build plants that will produce this gasoline brand to eliminate this dependence completely and keep prices stable. As you know, drivers of more expensive cars use AI-95 and Premium gasoline. Inevitably, this should not have such a significant impact on the transportation of goods and the growth of agricultural production. In this regard, we must work, especially the relevant agencies, to prevent artificial price increases under this pretext. We must try to be active in this matter."

The MP believes that artificial price increases should not be allowed at all because this category and this brand of gasoline are used in more expensive foreign cars and AI-92 and diesel fuel in cargo transportation.

"Unfortunately, it is not possible to produce AI-95 and Premium petrol in Azerbaijan, so the increase in the price of these fuels is also due to changes in the international fuel market. After the construction of a new plant in Azerbaijan or the completion of the modernization of the existing plant, it will be possible to produce this brand of gasoline, which will allow the state to regulate prices," he added.

Since June 1, the price of gasoline in Azerbaijan has risen to 1.40 manat for AI-95 gasoline.

Note that before the price increase, this brand of fuel was 1.25 manat.