At a governmental meeting on February 12, 2024, Uzbekistan's President Mirziyoyev announced that state-owned oil and gas company Uzbekneftegaz had been tasked with delivering 680,000 tonnes of diesel fuel to farmers at prices reduced by 15% to support agriculture.
Uzbekneftegaz confirmed that the 15% reduction in diesel fuel prices will start on February 21, 2024. The company, together with oil facilities and fuel stations in each region, will be responsible for implementing the price decrease.
According to the Statistics Agency, Uzbekistan produced 1.01 million tonnes of diesel fuel in 2023, 26.6% more than in 2022. By February 12, 2024, stock exchange quotations for diesel fuel in Uzbekistan had increased by 8.8% – from Uzbek s’om (UZS) 11.15 million per tonne (USD 905, EUR 844.9*) to UZS 12.14 million per tonne (USD 985.4, EUR 919.7*).
For comparison, in Kazakhstan, the weighted average price for diesel fuel in January 2024 was USD 605.3 (EUR 567.2*), and in February, it was USD 623.6 (EUR 584.4*). In Kyrgyzstan and Turkmenistan, prices are also lower than in Uzbekistan.
More information about the diesel fuel market in Uzbekistan can be found in our report: .
* Prices are converted from UZS into USD and EUR with the daily official (market) foreign exchange rate of the Central Bank of the Republic of Uzbekistan for February 14, 2024: USD 1 = UZS 12,480; EUR 1 = UZS 13,437