Gasoline prices increase by 4.7 per cent

Belneftekhim announced about the first price increase of automobile fuel in 2015.

On January 13 the gasoline price AI-92-K5-euro set at Br11.100 (+500, or 4.7%), the AI-95 petrol fixed at Br11.900 (+500; +4.4%), diesel fuel K5 equals to Br12.300 (+600; +5.1%) "Normal-80" set at Br10.000 (+450; +4.7%). The prices increased by an average of 4.7%, BelaPAN reports.

The retail automobile fuel prices are "partially indexed to the growth of dollar rate against Belarusian ruble", the statement says. Price revision is also made "in a regard to the price increase of Russian oil for Belarusian oil refineries since introduction of a tax maneuver in the Russian Federation in January 1, 2015".

The previous increase of retail fuel prices occurred on October 1, 2014. At the same time the price of gasoline AI-92-K5-euro is pegged to American currency: 1 liter equals $1. When today's official rate fixed at Br10.590 so the gasoline price of this brand set at Br10.600. AI-95 fixed at Br11.400 ($1.08), diesel oil of К5 traded at Br11.700 ($1.10), "Normal-80" equals to Br9.550 ($0.90).

Application of retail prices indexation depending on the dollar rate against the Belarusian ruble will "combine state and market price adjustments and bring in a valid motor fuel pricing policy to world practice", Belneftekhim stated. The new facility "will allow refineries to respond more quickly to changes in the price of crude oil, which Belarusian oil refineries buy in the Russian Federation on a prepaid basis only for foreign currency". "The price level of 1 liter of an indicative brand petrol AI-92-K5-euro, equivalent to $1, will ensure a minimum efficiency of refineries in Belarus and the possibility for further modernization", the press release notes.

The Belarusian gasoline remains more expensive than the Russian one, which fell significantly in dollar terms as a result of double devaluation of the currency of the Russian Federation. The everage price of AI-95 is now higher by 45.6%, AI-92 by 50%, diesel fuel is higher by 50.9%. Many Belarusian car owners from the border regions prefer to fill in in Russia, although earlier it was just the opposite.

Based on the results of 2014 "Normal 80" increased in Belarus by 20.9%, gasoline AI-92-K5-Euro by 20.5%, AI-95 by 20%, diesel oil by 19.8%. Prices increased quadruple.

In 2013 automobile fuel prices raised five times. The cost of "Normal-80" increased by 17%, AI-92 fixed at 23.7% - 26.6%, diesel fuel is higher by 25.5%, AI-95 by 26.7%.

In 2012 automobile fuel increased in price four times. The cost of "Normal-80" increased by 32.4%, AI-92 by 21.9%, AI-95 by 23%, diesel oils by 21.4%.

In 2011 the cost of fuel increased 11 times and decreased one time. "Normal 80" increased in 2.4 times, AI-92 in 1.99 times, AI-95 increased in 1.88 times, diesel oil in 2.44 times.

Since the beginning of October 2014 the average cost of a barrel of oil on the world market fell from 90 to 50 dollars, or in 1.8 times.