Propane price in Uzbekistan has increased by more than 60%

The price of propane in Uzbekistan has increased by more than 60%

The exchange price of liquefied petroleum gas (propane) in Uzbekistan rose by 60.6% in a single day, reaching 11.9 million soums per ton. During the trading session, the price per ton increased by approximately 4.5 million soums.

According to the Uzbek Republican Commodity and Raw Materials Exchange, on September 17, the average price of propane was 11 million 904.9 thousand soums per ton. On that day, the trading volume reached 914 tons.

The price increase occurred against the backdrop of changes in the rules governing the liquefied gas market. A presidential decree dated September 12 established that liquefied gas produced and imported in Uzbekistan must be sold through exchange trading, with the exception of volumes sold at own stations. At the same time, the previously existing limit on the growth of the exchange price relative to the starting price of the goods put up for auction was abolished.

The document also provides for the gradual introduction of market mechanisms in the field of supplying the population with liquefied gas and the creation of the company LPG-Trade. At the same time, the priority of gas supplies to the population must be maintained.

In addition, in March, the Competition Development Committee conducted an investigation into major importers of propane. Following the audit, 31 business entities were found guilty of unjustified price hikes and anti-competitive actions, with the total amount of fines reaching 28.9 billion soums.