Gasoline Prices Decrease in Armenia Over One Month

In June 2024, gasoline and diesel prices have decreased by 0.2% and 0.1%, respectively, compared to May. This information comes from the latest data released by the Statistical Committee of Armenia.

As of today, regular gasoline can be purchased at Armenian gas stations for 470 drams per liter, down from 490 drams in May. Premium gasoline is priced at 510 drams, a decrease from the previous 530 drams, while super gasoline costs 730 drams, compared to 750 drams previously.

According to official data, in June 2024, compared to June 2023, gasoline prices have increased by 25.7% and diesel by 16.5%. However, compared to December 2023, gasoline and diesel prices have decreased by 6.3% and 4.3%, respectively. It is noteworthy that in December 2023, the price of a liter of regular gasoline at gas stations was selling for 520 drams, and premium gasoline was priced at 560-570 drams. Additionally, in December 2023, gasoline prices had risen by 24.3% compared to the same month in 2022.

The trend of decreasing gasoline prices has been noticeable since January of this year, mainly attributed by experts to the lifting of restrictions on the export of petroleum products from Russia and the import of a new batch of gasoline into Armenia at the beginning of the year.

It is worth mentioning that Armenia currently has the highest gasoline prices in the region, primarily due to transportation costs and the fact that Armenia is not an oil-producing country. In contrast, neighboring Iran has the lowest gasoline price at just 12 drams per liter. Meanwhile, in Georgia, gasoline is also cheaper than in Armenia, priced at 465 drams per liter.

The average global price of gasoline is over 484 drams per liter. Furthermore, 76.6% of diesel fuel in Armenia is imported from Russia, and 11.9% is from Iran.