News.mn can confirm that the fuel price of A-92 is to increase. Petrol-importing companies have said that they have not raised the fuel price of A-92 despite fuel reserves being low.  This is because Russia has been cutting fuel exports to Mongolia since November. All Mongolian companies have been keeping the price of A-92 at MNT 1630 per liter, but ‘Tes Petroleum’ has raised the fuel price by MNT 20 per liter.

In April, the Mongolian Parliament approved to increase seven taxes which included fuel excise tax in April as a requirement of the IMF aid programme. The increase in fuel import tax has been delayed since July following a proposal from the Mongolian Ministry of Mining & Heavy Industries. The proposal aimed to stabilize fuel supply and retail prices. According to sources, the fuel import tax is expected to come into effect on January 1st, 2018 and petrol companies are preparing to raise their prices.