The oil products market in Armenia has become more resilient due to the elimination of monopolies and the increase in the number of importers. Prime Minister Nikol Pashinyan stated this during a press briefing with journalists, addressing potential supply risks and price fluctuations in the fuel market.
A journalist inquired whether the government has an assessment of the potential risks of gasoline and diesel supply, considering the recent restrictions in the fuel market in Russia and the fact that a significant portion of Armenia's imports comes from Russia.
Pashinyan noted that the changes in Armenia's oil products market over the past few years have allowed for a reduction in dependence on a limited number of suppliers.
“Replacing dependence on a few with dependence on many is independence,” the Prime Minister emphasized.
He pointed out that the Armenian oil products market is not experiencing the typical shocks seen in the past due to current global developments.
“In the past, when someone sneezed, the oil products market in Armenia would be shaken. We have long been prepared for this by eliminating monopolies,” Pashinyan said.
According to the Prime Minister, dozens of companies importing gasoline are currently operating in Armenia, with new investments and new networks of gas stations, while old networks continue to operate as well.
Pashinyan expressed confidence that market mechanisms would be able to regulate the situation.
At the same time, the Prime Minister noted that potential increases in oil product prices may be linked to the global situation.
“Price increases are related to the global situation. We cannot avoid the global influence on oil product prices,” he said.
