Just two days before new year fuel importers increased the fuel price by 50 MNT per liter. Currently Sod Mongol Company is selling AI-92 petrol at 1670 MNT through gas stations. Sinchi Oil and Magnai Trade LLCs have also increased the fuel price up by 50 MNT per liter during the New Year. Now petrol prices are at 1670 MNT per liter.

The Authority for Fair Competition and Consumer Protection (AFCCP) made a statement that the increase of fuel prices by 50 MNT per liter by fuel importers is reasonable, on December 24th.

The gas stations of three companies have increased fuel price by 100 MNT. The Authority for Fair Competition and Consumer Protection (AFCCP) answered complaints saying that the “State Inspectors audit team is working to clarify if the fuel price is reasonable”.

The Chief of The Authority for Fair Competition and Consumer Protection (AFCCP), O.Magnai said “It was known that fuel importers would increase fuel prices. They previously announced that there would be an increase of fuel prices up to 2010 MNT and delivered to us the estimation and reason behind it. But the Government and the Central bank issued 83 billion MNT loans to fuel importers. As a result fuel retail prices increased only by 50 MNT. But it is uncertain how diesel and other fuel prices will increase”.

Meat prices have already been affected by the fuel price increase. People had not forgetten about O.Magnai`s promises that “According to our estimation the bread increase would be about 4 MNT, meat per kg 30 MNT. But there is estimated to be no other increases”. A study shows that primary products price increased by 2.5 percent more than the previous month. 

The weekly average cost has increased by 1.1 percent. Beef prices have increased by 1.2-3.1 percent, lamb 5.9 percent, horsemeat by 0.2 percent and goat by 3.7 percent according to an estimation on January 2nd.

Due to the increase of the cost of lamb in the market is now 6614-6800 MNT, beef by 7389 – 8344 MNT and goat 4880-5533 MNT.