Mongolian consumers may experience fall in prices of petrol
Petroleum prices of Russian Rosneft were decreased this month according to an official source. Rosneft is the wholly exporter of petrol to Mongolia and the prices of petrol were decreased by $30-50 per ton.
This should affect the price of petrol in Mongolia directly and the chances are the price could drop. What we see often is that the Mongolian importers are not keen to drop prices. They explain that the petrol have been reserved when the price was high so it is impossible to be sold at lower price. Another issue is the Mongolian Government as they may increase tax on petrol if the price of petrol falls by significant amount. Other key issue for the price of petrol to fall is the exchange rate. Value of Dollar against MNT has been dropping for the last two months which increases the purchasing power for Mongolian petrol importer companies. If petrol price of Rosneft stays stable or continue to drop further, Mongolian consumers may enjoy petrol price cuts from next month.
This should affect the price of petrol in Mongolia directly and the chances are the price could drop. What we see often is that the Mongolian importers are not keen to drop prices. They explain that the petrol have been reserved when the price was high so it is impossible to be sold at lower price. Another issue is the Mongolian Government as they may increase tax on petrol if the price of petrol falls by significant amount. Other key issue for the price of petrol to fall is the exchange rate. Value of Dollar against MNT has been dropping for the last two months which increases the purchasing power for Mongolian petrol importer companies. If petrol price of Rosneft stays stable or continue to drop further, Mongolian consumers may enjoy petrol price cuts from next month.
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