Diesel Fuel Purchase Prices Increase by 25-35% in March-April

The Competition Protection Commission is continuously monitoring the markets for widely consumed and highly concentrated commodity goods. Due to the rise in retail prices, the Commission is also examining the diesel fuel market in Armenia, along with the dynamics of global market prices and its impact on diesel fuel prices in various countries.

Considering that all petroleum products sold in the Republic of Armenia are imported, increases in diesel fuel prices in international markets have affected the domestic market of the Republic of Armenia.

Preliminary findings of the study revealed that during March-April 2022, diesel fuel purchase prices rose by approximately 25-35%, and there was a significant increase in logistics costs, while during the same period, the appreciation of the dram was around 5%.

Currently, the global market is experiencing the highest recorded prices for diesel fuel. For example, in the Republic of Georgia, diesel fuel prices increased by about 40% from January 2022 to April 2022, rising from 471 drams to 664 drams. European countries have also witnessed increases in diesel fuel prices. In Estonia, prices have risen by approximately 200 drams (equivalent to around 32%), while in Romania, they rose from about 650 drams to 860 drams (a roughly 32% increase), despite being an oil refining country.

The Commission's study on the diesel fuel market is ongoing.