The State Commission for the Protection of Economic Competition Monitors Gasoline Market Prices

The State Commission for the Protection of Economic Competition is keeping a close eye on the gasoline market in Armenia. Gegham Gevorgyan, the chairman of the Commission, made this statement during a press conference convened by the Armenian government.

“We currently have an ongoing process regarding gasoline prices. A decrease in gasoline prices is expected externally, and it should reflect on Armenia after some time. I would like to remind you that the price of oil accounts for 5-10 percent of gasoline’s production cost. Therefore, a 30 percent drop in oil prices can have approximately a 3 percent impact on gasoline prices. In any case, I believe we will soon make a statement regarding the forecasts for gasoline prices, indicating a decrease,” said Gegham Gevorgyan.