Why Is Gasoline Prices Rising If the Dollar Exchange Rate Is Decreasing?

In Armenia, the price of gasoline is not decreasing. A liter of regular gasoline is sold at Armenian gas stations for 480 drams, while premium gasoline is priced at 500 drams. Companies involved in the import and sale of gasoline have justified the price increase by citing the high exchange rate of the dollar, which has affected the prices of imported goods.

However, as you can see, the exchange rate of the dollar is decreasing, yet the high price of gasoline remains intact. For instance, as of yesterday, the maximum buying price for the dollar in Armenian commercial banks was 490-492 drams, with selling prices at 498-500 drams.

Additionally, according to a list obtained by the newspaper "Zhoghovurd," the average global price of gasoline was 1.17 dollars as of June 21. For example, in the member countries of the Eurasian Economic Union, which includes Armenia, gasoline is sold at significantly different prices. In Kazakhstan, the average price for a liter of gasoline is about 222 drams. In Belarus, the average price is around 340 drams, while in Russia, it stands at 337 drams. In Kyrgyzstan, the average price is about 316 drams.

It is noteworthy that gasoline is sold at equal prices in the Armenian and Georgian markets. In the neighboring Islamic Republic of Iran, gasoline is sold for an average of 32 drams, from where Armenia has started to import gasoline in large quantities. However, as you can see, the price of Iranian gasoline here is exorbitantly high, exceeding 400 drams,” states the newspaper.

For the full article, refer to today's issue of the newspaper.