Fuel supplies from Azerbaijan have played a critical role in preventing sharp increases in gasoline prices in Armenia.
According to Report, citing Armenian media, the country's Economy Minister Gevorg Papoyan made this statement during an event dedicated to Labor Day.
"In most countries, gasoline prices have risen several times, but in Armenia, the increase has been only a few percent. Let me explain very clearly and directly why this is the case. If it were not for Azerbaijani gasoline and diesel fuel, our prices would be several hundred drams higher than they are now. We must maintain maximum diversification to ensure that the impact of geopolitical factors is felt as little as possible," the minister stated.
The energy dynamics in the South Caucasus have undergone significant shifts following the restoration of Azerbaijan's territorial integrity and the ongoing normalization process in the region. Azerbaijan, a major regional energy hub, has consistently emphasized the importance of regional cooperation and the utilization of its energy resources to foster stability. The diversification of energy routes and supplies is seen as a key component of economic security for neighboring states, particularly in the context of fluctuating global oil markets and regional geopolitical transitions.
