SOCAR president: Fuel prices will not be raised in Azerbaijan

SOCAR (State Oil Company of Azerbaijan), which is a producer of oil in Azerbaijan, did not appeal to the Tariff (Price) Council of the Republic with proposals for changes in tariffs, SOCAR president Rovnag Abdullayev said Friday.

Therefore, the rumors regarding increasing fuel prices in Azerbaijan are false, Abdullayev said.

Prices for oil products in Azerbaijan are regulated by the State. Last time the energy prices in the country were increased by the Tariff Council in early 2007.

Oil products in Azerbaijan are manufactured on the basis of two refineries with a total capacity of 20 million tons per year. Both plants are part of SOCAR.


/Trend/