First Deputy Prime Minister of Mongolia and Minister of Economy and Development Enkhbayar Jadamba received representatives of the “Fuel Price Council” at the Ministry of Economy and Development, where they exchanged views on the current situation and policy measures to be implemented.

During the meeting, participants discussed policy solutions to mitigate the risks and impacts on Mongolia’s economy stemming from rising international petroleum prices, driven by the ongoing conflict in the Middle East.

The Ministry of Industry and Mineral Resources provided an update on the current status of fuel reserves and procurement, noting that there have been no disruptions in supply and that domestic reserves remain at normal levels.

Representatives of the “Fuel Price Council” emphasized that the increase in global oil prices, as well as the rise in border prices of fuel supplied from the Russian Federation, are creating conditions that directly affect retail fuel prices in the domestic market. They presented several proposals aimed at reducing the adverse impact of sharp price increases.

In his remarks, First Deputy Prime Minister Enkhbayar emphasized that rising international oil prices are a key factor driving imported inflation in Mongolia. He highlighted the importance of easing short-term pressure from price increases while maintaining market stability in the medium term. He also stressed that government policy should be based on principles that do not disrupt normal market functioning and that protect fiscal and financial stability.

As a result of the meeting, it was decided to consolidate the proposals of relevant organizations and present them at a Cabinet meeting.

Published Date:2026-03-25