Retail gasoline prices of Ulaanbaatar city dropped by MNT 80-150 starting Jan 21st, reported by the Ministry of Mining.
In December, 2015, retail gasoline prices fell by MNT 80-400 in Western region while it fell by MNT 10-230 in Eastern region. Moreover, gasoline prices plummeted by MNT 100-150 in Umnugobi, Dornogobi, Huvsgul and Arhangai aimags starting Jan 20.
Due to gasoline supply was too dependent on a single company, border gasoline prices were higher than regional markets with USD 300-400 per ton.
Border prices, taxes, exchange rate of MNT against USD and operating costs affect the gasoline prices. The Government has stabilized the retail prices by changing the taxes.
Prices for oil on international market have declined significantly from Aug, 2014. Therefore, Government of Mongolia and the Ministry of Mining has taken following actions;
- Stop granting the soft loan to gasoline importing companies from Jan 1st, 2015 and the interest rate was set at 16-18 percent.
- Excise tax on gasoline importing by Central region is set at MNT 252,000-265,000
- Custom tax on gasoline was increased to 5 percent on Feb, 2015. As of 2015, total of MNT 160 billion was collected to state budget from only gasoline taxes.
Retail gasoline prices of Ulaanbaatar city dropped by MNT 80-150 starting Jan 21st, reported by the Ministry of Mining.
In December, 2015, retail gasoline prices fell by MNT 80-400 in Western region while it fell by MNT 10-230 in Eastern region. Moreover, gasoline prices plummeted by MNT 100-150 in Umnugobi, Dornogobi, Huvsgul and Arhangai aimags starting Jan 20.
Due to gasoline supply was too dependent on a single company, border gasoline prices were higher than regional markets with USD 300-400 per ton.
Border prices, taxes, exchange rate of MNT against USD and operating costs affect the gasoline prices. The Government has stabilized the retail prices by changing the taxes.
Prices for oil on international market have declined significantly from Aug, 2014. Therefore, Government of Mongolia and the Ministry of Mining has taken following actions;
- Stop granting the soft loan to gasoline importing companies from Jan 1st, 2015 and the interest rate was set at 16-18 percent.
- Excise tax on gasoline importing by Central region is set at MNT 252,000-265,000
- Custom tax on gasoline was increased to 5 percent on Feb, 2015. As of 2015, total of MNT 160 billion was collected to state budget from only gasoline taxes.