Azerbaijan sees growth in engine oil prices

By Trend

Azerbaijan's engine oil prices have increased, car diagnostics and repair specialist Sahil Aghabayli told Trend.

According to him, the rise is mainly recorded in engine oil imported from Europe.

“Motor oil prices have been soaring for several months. The entrepreneurs said the situation in Ukraine was the major factor influencing the price increase. Earlier, engine oil was mainly being imported from Europe to Ukraine, then to Russia by land, and later into Azerbaijan. However, current air transportation causes higher oil prices," Aghabayli said.

He noted that importing countries are among the key drivers of engine oil prices.

"The growth of traffic costs is one of the reasons that impact the motor oil prices. Prices have increased by more than 30 percent over the past year. This means that the price increase per liter of motor oil equals at least 5 manat ($2.94) and at most 15 manat ($8.8), depending on the manufacturing country," Aghabayli added.