PETROL PRICES IN ARMENIA JUST KEEP GOING UP AND UP

Tert.am
16:00 ~U 19.03.10

Once again, companies that import and sell gas in Armenia connect this
usual raising of the cost of petrol (gasoline) in Armenia with the
recorded exchange rate fluctuations of the Armenian dram and the US
dollar and with the increase in the cost of oil in the global market.

Local Armenian company Maxhur LLC’s representative informed Tert.am
that the price of petrol is expected to increase daily, since even
today the company is working at a loss.

Just this month, the cost of petrol is being raised for the third time.

As if that wasn’t enough, Maxhur representative informed a Tert.am
correspondent that "the 4th and 5th wave in price increase is
expected."

In a phone conversation with Tert.am, another local company, Flesh,
Deputy Director Mushegh Elchyan said that, unlike other companies,
Flesh raised its prices only once this month.

"So far, we’re holding back and not raising prices due to surplus
[which the company had purchased previously at a lower cost]," said
Elchyan, adding that the company will not raise the petrol price till
the end of March and will wait for the market to stablize.

"It’s the small companeis that take advantage of the situation and
raise the prices quickly," he said.