Antimonopoly service: Azerbaijan does not reveal artificial increase in oil prices

The State Agency on Antimonopoly Policy and Consumer Protection under the Economic Development Ministry has revealed the cause of recent increase in the prices on liquid oil produced in the country, the ministry said.

"The monitoring, carried out in the consumer market, showed that the changes in the cost of liquid oil are related to the rise in commodity prices on world markets, rather than artificial rise in prices," a statement said.

The imported raw materials are used while producing sunflower and corn oil in Azerbaijan. The cost of raw materials increased by 25 percent in the world market for three months. This led to an increase in the cost of sunflower and corn oil.


/Trend/