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AI-92 fuel price to be kept stable until the end of 2022 www.montsame.mn
During today’s regular meeting of the Cabinet, Minister of Mining and Heavy Industry G.Yondon presented the measures being taken to stabilize the price of fuel.
This month, A-80 fuel is being imported from Russia for USD 1,255, which increased by USD 81 compared with the previous month.
The price of fuel imported from Russia to Mongolia is directly related to the price of oil on the world market. The average cost of A-80 fuel has increased to MNT 3,758, AI-95 fuel to MNT 4,145, and diesel fuel to MNT 4,116 due to the increase in oil prices, the border price of import, and the USD exchange rate.
In order to reduce the increase in fuel prices, the Ministry of Mining and Heavy Industry reached an agreement with the Russian company Rosneft to purchase 120,000 tons of AI-92 gasoline at the border price of USD 840 per ton. As a result, the retail price of AI-92 gasoline, which was estimated to reach MNT 3,325 per liter in April, has been stabilized at MNT 2,390.
In July 2022, as a result of another negotiation with Rosneft, an agreement has been reached to buy AI-92 gasoline at USD 830 per ton until the end of December of this year. As a result, the border price of AI-92 gasoline, which reached USD 1,285, was reduced to USD 830 per ton, or the retail price of 1 liter of the product was reduced from MNT 3,728 to MNT 2,390. Moreover, it became possible to maintain the price of AI-92 at MNT 2,390 per liter until the end of the year, according to the Minister.
Published Date:2022-07-21
