The Government presented the decisions made during its regular Cabinet meeting, including measures being implemented by the Rapid Response Headquarters to stabilize the country's fuel supply.
As part of the emergency measures, fuel is currently being sold under an even-odd license plate system, with purchases limited to MNT 50,000 per vehicle. The government has also temporarily prohibited the sale of fuel in containers.
Minister of Industry and Mineral Resources G.Damdinnyam said the first day of the new system had produced positive results.
“The government is working to diversify fuel import sources and increase import volumes. People are asking how Mongolia will import fuel from the Republic of Korea. We already purchase fuel from South Korea and Singapore. The issue is not where we buy it, but increasing the volume. We are buying fuel wherever it is available. Our priority is securing supply rather than focusing on price or tariffs.
Mongolia normally consumes around 2,000 tons of gasoline per day, but daily consumption has risen to 3,000–4,000 tons due to public concern and panic buying. Also, the construction of new strategic fuel storage facilities has begun.
Mongolia currently has storage capacity for only about one month's worth of fuel. By this time next year, we expect to have reserves sufficient for two months, and by 2028, we aim to build reserves covering three months of consumption," he said.
To help stabilize prices and prevent supply disruptions, the government has also exempted all fuel and petroleum products from import customs duties.
Under the Cabinet resolution "Measures to prevent shortages of gasoline", the government has decided to:
- Ensure the prompt import, transportation, and unloading of petroleum products and all types of fuel at border crossings.
-
Set the import customs duty on all petroleum products and fuels at zero percent until February 1, 2027.
-
Reduce fees for the use of foreign railway tank cars.
-
Expedite the approval of permit applications that meet all legal requirements.
-
Remove administrative obstacles affecting the import of raw materials required for petroleum product production.
-
Instruct the relevant Ministers to ensure a stable national fuel supply.
The Government presented the decisions made during its regular Cabinet meeting, including measures being implemented by the Rapid Response Headquarters to stabilize the country's fuel supply.
As part of the emergency measures, fuel is currently being sold under an even-odd license plate system, with purchases limited to MNT 50,000 per vehicle. The government has also temporarily prohibited the sale of fuel in containers.
Minister of Industry and Mineral Resources G.Damdinnyam said the first day of the new system had produced positive results.
“The government is working to diversify fuel import sources and increase import volumes. People are asking how Mongolia will import fuel from the Republic of Korea. We already purchase fuel from South Korea and Singapore. The issue is not where we buy it, but increasing the volume. We are buying fuel wherever it is available. Our priority is securing supply rather than focusing on price or tariffs.
Mongolia normally consumes around 2,000 tons of gasoline per day, but daily consumption has risen to 3,000–4,000 tons due to public concern and panic buying. Also, the construction of new strategic fuel storage facilities has begun.
Mongolia currently has storage capacity for only about one month's worth of fuel. By this time next year, we expect to have reserves sufficient for two months, and by 2028, we aim to build reserves covering three months of consumption," he said.
To help stabilize prices and prevent supply disruptions, the government has also exempted all fuel and petroleum products from import customs duties.
Under the Cabinet resolution "Measures to prevent shortages of gasoline", the government has decided to:
- Ensure the prompt import, transportation, and unloading of petroleum products and all types of fuel at border crossings.
-
Set the import customs duty on all petroleum products and fuels at zero percent until February 1, 2027.
-
Reduce fees for the use of foreign railway tank cars.
-
Expedite the approval of permit applications that meet all legal requirements.
-
Remove administrative obstacles affecting the import of raw materials required for petroleum product production.
-
Instruct the relevant Ministers to ensure a stable national fuel supply.