The end of Russian dominance in the fuel market
Oragir.News · 11 minutes
“Big changes have taken place in the gasoline market: if in 2023 Russia provided 90% of Armenian gasoline, at the moment this figure has decreased considerably, and it currently provides only 20% of the total market, and this number is gradually decreasing. In diesel fuel, Russia is still in first place with 32%, but Turkey is in second place with 25%, Iran with 15%, Azerbaijan is in fourth place with 8%. Russia has always applied restrictions on the export of diesel fuel, but this has never been extended to the EAEU countries. At the moment, the EAEU agreement is not fully implemented, and the single common energy market is disrupted, so to speak, which also leads to the increase in price.”
“Many people believe that there is an oligopolistic arrangement in Armenia. Let me note that this is not the case. If in 2018 there were four players in the market, now there are more than eight, and the competition is quite high. In fact, the price is formed at the border. If in 2022 the market took 11 months to calm down, this may take longer, that is, we may see high gasoline prices for more than a year.”
Topic Analysis: Gasoline Price Shock: Where Did Russian Fuel Disappear?