Import of RON 92 gasoline exempted from customs duty

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    Azerbaijani Cabinet of Ministers released exempted from the customs duty the import of gasoline 92 RON.

    Previously, the customs duty rate for this type of gasoline was 15 percent.

    Aircraft motor gasoline is an exception.

    Under, another decision of the Cabinet of Ministers the excise rate for the import of 92 RON gasoline was reduced from 200 manats ($117) per ton to 1 manat ($0.59).

    The decision comes into force from the date of publication and is valid for 90 days.

    Azerbaijan’s state oil company SOCAR told Trend on July 18 that these decisions of the Cabinet of Ministers are related to the temporary suspension of production of oil products at the Baku Oil Refinery named after Heydar Aliyev in line with the planned preventive measures, as a result of which certain volumes will be imported from abroad.

    Under the program, the modernization process of the Heydar Aliyev Oil Refinery, the cost of which is estimated at $1.8 billion, is expected to finish in 2021.

    The processing capacity will increase from 6 million to 7.5 million tons of oil per year. Moreover, the Oil Refinery will produce 2.4 million tons of gasoline and 2.6 million tons of diesel fuel.

    Azerbaijan’s Tariff (Price) Council announced on July 15 that it decided to increase the retail price for 92 RON gasoline by 20 gapiks ($0.12).

    Starting from July 15, the 92 RON gasoline costs 90 gapiks (0.53).

    The Tariff Council noted that this step was taken with the aim to bring the motor fuel produced in Azerbaijan to the level of European standards, improving the ecological environment and meeting the growing demand of population.

    The Council marked the increase in the retail price for 92 RON gasoline won’t affect cargo transportation, public transportation, including regular passenger transportation by buses.

    Earlier, in August 2016 Azerbaijan zeroed the customs duty for the import of gasoline AI-92 for 60 days and fixed excise tax for such import at the formal level.