ULAN BATOR, Apr 16 (NNN-XINHUA) – Mongolia saw sharp rises of fuel prices, in the first quarter, with average price of the gasoline brand AI-92 up 64.8 percent year on year, to 2,381 Tugriks (0.78 U.S. dollars) per litre, at the end of March, said the National Statistics Office.
The surge in the retail price of the most commonly used gasoline brand in Mongolia, is due to the continued border restrictions caused by the COVID-19 pandemic, and the ongoing Russia-Ukraine conflict, according to the office.
Currently, Mongolia has no oil refinery and relies heavily on Russia for gasoline and diesel fuel.
Since the beginning of this year, Mongolia imported 443,700 tonnes of oil products, including 168,100 tonnes of AI-92 gasoline, according to a statement, by the country’s Ministry of Mining and Heavy Industry.– NNN-XINHUA
