In January, the border price of imported fuel was USD 630-646 per ton due to falling oil prices at the world market. In May, the price fell by USD 98-158 per ton compared to the previous month and he stressed that this situation has a positive effect on fuel prices in the domestic market.

In May, A-80 fuel price lowered by MNT 50 per liter, and AI-92 fuel by MNT 80-100, AI-95 fuel by MNT 200 and diesel fuel by MNT 160 respectively, making the total decrease in the retail price of fuel since March 18 - MNT 380 for A-80, MNT 475 for Ai-92, MNT 440 for Ai-95 and MNT 590 for diesel fuel per liter.

Head of MRPAM Ts.Erdenebayar stated that the average retail price of fuel in Ulaanbaatar city should be kept at MNT 1350 for A-80 fuel, MNT 1360 for Ai-92 fuel, MNT 1800 for Ai-95 fuel and MNT 1990 for diesel fuel per liter respectively.

However, as of today, the average price of fuel in Ulaanbaatar is MNT 1320-1400, and MNT 1590-1670 in remote aimags and rural areas such as Gobi-Altai and Zavkhan. The national average price is MNT 1426-1506, according to MRPAM.

As of May 19, the country has reserve of petroleum products for 39 days’ consumption nationwide, more specifically, A-80 fuel – for 61 days, AI-92 fuel – for 33 days, diesel fuel – for 40 days, aviation fuel- for 8 days.

On March 27, the government announced that the retail price of fuel per liter would be gradually cut by MNT 300-400, beginning from April 15 as part of the economic measures to alleviate the negative impacts imposed by COVID-19 pandemic on the Mongolian economy. Officials noted that certain actions have been carried out to implement the measure, such as maintaining constant supply of AI-92 in the previous 8 months, increasing the supply of Euro-5 fuels within the national program on air pollution reduction and others.