Fuel Prices Rise in Armenia: Market Overview

Fuel prices in Armenia have risen. The price for a liter of regular gasoline at Armenian gas stations is selling for 460 drams, while premium gasoline is priced at 480 drams. This is corroborated by official statistics, which indicate that in May of this year, compared to April, gasoline and diesel fuel prices have increased by 3% and 5.4%, respectively.

Moreover, in May of this year, compared to May 2020, gasoline experienced a 49.6% increase and diesel fuel saw a 38.3% price hike. According to operators engaged in the import and sale of gasoline, the primary reason for the price increase is the high exchange rate of the dollar, which impacts the prices of imported goods.

The exchange rate of the dollar remains elevated. As of yesterday, the maximum purchase price for the dollar in Armenia’s commercial banks was 518 drams, with a selling price of 522 drams. On the other hand, the euro has also significantly appreciated in value. According to the 'Zhoghovurd' daily, the maximum purchase price for the euro at Armenian banks yesterday reached 627 drams, while the selling price was 641 drams.

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