Armenian Flash company intends to drive petrol prices five percent down

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Economy

10.09.2008, 03:36

Flash Company intends to drive prices for petrol imported in Armenia five percent down, Barsegh Beglaryan, the president of this petrol-importing company, said at a press conference on Monday.

YEREVAN, September 9. /ARKA/. Flash Company intends to drive prices for petrol imported in Armenia five percent down, Barsegh Beglaryan, the president of this petrol-importing company, said at a press conference on Monday.

Flash petrol stations in Yerevan sell Regular petrol at AMD 410, Premium at AMD 440 and Super for 470 per liter.
“Petrol prices will be lowered from present AMD 410 to 390 in coming Tuesday”, Beglaryan said.

He said that the recent petrol shortage was due to the escalation of Georgian-South-Ossetian tension, since 90 percent of imported fuel comes to Armenia through Georgia.

Large volumes of cargoes were trapped in Georgia because of turmoil and destruction of the railway bridge there.

Fortunately, the situation is gradually improving. The head of the company said that petrol prices slipped 5% also on world fuel markets.
He said that if, things are normal, the company will lower petrol price 2 to 5% again.

Beglaryan said that Flash, taking into account volatile situation in Georgia, is trying to diversify sources of fuel supply to Armenia and bring petrol form Iran and Central Asia.

He also pointed out the benefit of Armenia-Turkish border opening.
Flash Company was established in November 1995.

Its share on Armenian petrol market is 25% and diesel market 35%.
Armenia sells 15,000 tons of petrol and 7,000 to 8,000 tons of diesel every month. M.V.-0--

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