Retail price

Mongolia is a net importer of refined petroleum products. Therefore, the diesel retail price fluctuates against the international crude petroleum price.

From 2016 to 2019, diesel prices gradually increased from MNT 1717 (USD 0.6)/liter to MNT 2425 (USD 0.84)/liter. In 2020, the international oil price dropped and as a result the diesel retail price dropped to MNT 2169 (USD 0.75)/liter. In 2021, the retail price rose again to MNT 2377 (USD 0.82)/liter, slightly lower than in 2019. The figure below shows average historical retail prices for diesel.