Pashinyan says stability in Armenia’s fuel market is linked to the elimination of monopolies
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Armenia’s fuel market has become more resilient as a result of the elimination of monopolies and an increase in the number of importers, Prime Minister Nikol Pashinyan said, commenting on potential supply risks and price fluctuations in the fuel market.
Asked whether the government had assessed possible risks to gasoline and diesel supplies in light of recent restrictions in Russia’s fuel market and Armenia’s heavy reliance on Russian imports, Pashinyan said changes introduced to Armenia’s fuel market in recent years had reduced dependence on a limited number of suppliers. “Independence means replacing dependence on a few with dependence on many,” the prime minister said.
He stressed that, despite global developments, the Armenian fuel market has not experienced the kind of disruptions seen in the past.
“In the past, whenever someone sneezed, Armenia’s fuel market would be shaken. We prepared for this long ago by eliminating monopolies,” Pashinyan said.
According to the prime minister, dozens of companies are now importing gasoline into Armenia, with new investments and new fuel station networks entering the market, while existing networks continue to operate.
Pashinyan expressed confidence that market mechanisms would make it possible to regulate the situation.
At the same time, he noted that any increase in fuel prices would be driven by global developments.
“Price increases are linked to the global situation. We cannot insulate ourselves from the global impact on fuel prices,” Pashinyan said.