AI-92 gasoline prices hit record high as exchange supply dwindles

At the close of trading on June 29, a ton of AI-92 fuel was sold for UZS 13,919,000. This marks a 1.1% increase compared to previous trading sessions, setting a new historical record. Since the beginning of June, fuel prices have surged by UZS 1,473,000 – or approximately 11.8%.

The sharpest rise occurred during the first half of the month. On June 4, a ton of AI-92 gasoline stood at UZS 12,476,000, but by June 8 it had jumped by 10.5% to reach UZS 13,788,000 in just four days. Over the following two weeks, prices fluctuated within the UZS 13,700,000–13,800,000 range, before climbing again on June 29 to set the new record.

This price growth coincided with a noticeable contraction in market supply on the exchange. On June 1, a total of 3,791 tons of gasoline were put up for auction. By June 23, that volume had dropped by nearly half, falling to 1,898 tons. Although supply levels recovered to 3,123.2 tons on June 29, the increased volume failed to cool down the record-breaking prices.

Reportedly, the domestic price spike correlates with a broader fuel deficit in Russia. The shortage across the border stems from unscheduled maintenance and repairs at Russian oil refineries following a series of Ukrainian drone strikes.

The Russian government had previously implemented a temporary ban on gasoline exports starting April 1. Market observers note that while such export restrictions can help stabilize domestic markets and slow down rapid price growth, they are unlikely to trigger a sharp drop in fuel costs for importing countries like Uzbekistan.