Without supplies from Azerbaijan, gasoline in Armenia would have become several times more expensive – economy minister

If there had been no alternative supplies of petroleum products to Armenia, and in particular Azerbaijani gasoline, prices on the Armenian fuel market would have risen not by percentage points, but many times over, or at least by several hundred drams.

Armenian Economy Minister Gevorg Papoyan said this to journalists today after the regular government session.

"In general, gasoline prices have risen sharply all over the world. If you have acquaintances in the United States, Europe or Asia — anywhere at all — ask them not just about the percentage increase, but about how many times the price has gone up. In reality, the price growth in Armenia turned out to be one of the lowest in the world. We imported it from Azerbaijan in order to prevent a sharp price spike. Gasoline in Armenia has become more expensive, who would argue with that? But I want to say: if there had been no alternative, the price of gasoline in Armenia would probably have jumped by several hundred drams," the minister noted.

He also added that the situation in Armenia cannot be viewed in isolation from the rest of the world. If problems arise — for example, in the Strait of Hormuz or the Bab-el-Mandeb Strait — or if world oil prices reach new record highs, this inevitably affects production costs.

The solution is to have as many sources of supply as possible: this makes it possible to take maximum advantage of any positive changes and to minimize the consequences of negative ones. The same applies to liquefied gas and to energy prices in general, Papoyan concluded.

Source: Sputnik Armenia