April 4, 2002 - 23:57 AMT
RISE OF GAS PRICES EXPECTED IN ARMENIA
The rise of the world prices for oil will affect the local market. According to the «Arminfo» agency reports, the local importers have already bought oil products for new prices and it is natural that they will increase prices for gas and diesel oil. It is expected that the price for a liter of Regular gas will increase by 10-12 drams (2-4 cents) and will be 260-270 drams (46-48%). The rise of prices for diesel oil in April is not forecast. It should be noted that in the course of bargaining in London exchange April 2 oil futures quotation for April exceeded $28 for barrel. Possible escalation of Palestinian-Israeli conflict and the statements about possible imposition of several Arabian countries' embargo on supplies of oil to Israel's allies are the reasons of the price rise.