In recent days, fuel prices have increased by MNT 100-250 (AI-95) and MNT 50-100 (A92) following Rosneft’s hike of its export prices combined with the fall of the Mongolian Tugrik against the US Dollar.
According to Mongolian fuel importers, Rosneft, which is the largest Russian oil company, has increased fuel prices by USD 45-85 per tonne from October, 2018. In addition, the US Dollar which is being sold at MNT 2533, has increased since September. These two factors have led to price increases in Mongolia.
Mongolia is 100 percent depend on fuel imports. Currently, the country has fuel reserve for 37 days.