SOCAR Vice-President David Mammadov: “Influence of the rise of fuel price on the consumer market will make 3.8%”

SOCAR Vice-President David Mammadov: “Influence of the rise of fuel price on the consumer market will make 3.8%”
# 03 December 2013 15:35 (UTC +04:00)

Speaking about reasons of the rise of price fuel, D. Mammadov said that the price of these products last rose in February, 2007: “During this period, economy in the world and Azerbaijan developed, personal incomes increased and demand for fuel is increasing. Moreover, our researches indicate that the fuel price in Azerbaijan is lower than in the neighboring countries. At the same time, taking into account that Azerbaijan is a regional transportation corridor, this causes certain disorganized export in the market and imbalance. In this condition, the price rise was inevitable”.

At the same time, though Mammadov admitted the influence of this increase on the economy and consumer market, noted that this influence is not serious. Mammadov says according to macroeconomic scenario developed by the SOCAR jointly with international advisors, influence of the current price rise on the consumer market will make 3.8%.

According to him, petrol stations stopped their operation temporarily on the night of December 2-3 and did not sell petrol to the population and it was related to conformation of existing equipments and cash registers to new prices, calculation of the rest of goods and inventory check.

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