Energy Minister of Uzbekistan Explains Propane Prices Grow

According to the podcast Lolazor, the Energy Minister of Uzbekistan, Zhurabek Mirzamakhmudov, recently addressed the issue of rising propane prices in the country. He attributed the price increase to various factors, including insufficient growth in fuel production, an increase in the number of cars and resellers and the presence of unlicensed firms operating in the Uzbek liquefied gas market.

Mirzamakhmudov mentioned that the country’s propane production is expected to reach 860,000 tons in 2024, up from the previous 800,000 tons. He also emphasised that the Ministry of Energy does not impose any barriers to the purchase of imported fuel.

Looking ahead, the Ministry of Energy aims to tackle the issue of unlicensed resellers, with plans to limit participation in the market to companies with gas stations. Mirzamakhmudov predicted that propane prices could stabilise by the end of the year if gas stations refrain from exploiting the situation.

In early October, economist Otabek Bakirov highlighted the steep increase in exchange prices for propane, reaching 8.6 million soums. He also pointed out a significant disparity between the propane price for the population (1.6 thousand soums) and the market price, which was 4.5 times higher.

Furthermore, there were reports of the suspension of trading in liquefied gas produced by joint ventures of Uzbekneftegaz and foreign companies.

Kursiv Uzbekistan also reports how the country is preparing for the upcoming winter.