Fuel Prices Mongolia

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Part of: GIZ International Fuel Price database
Also see: Mongolia Energy Situation

Fuel Pricing Policies

Local Currency: MNT
Exchange Rate: 1272


Last Update: 2011/05/01

The downstream fuel sector is open and fuel pricing is liberal. However, according to →App. A1, the Ministry of Mineral Resources and Energy may act as some kind of a antimonopolistic agency. In May 2011, the ministry threatened fuel retailers to withdraw their licenses if they did not reduce fuel prices after an unjustified price hike.

Mongolia imports all of its fuels from Russia. There is an import tax on fuels. According to an internet article (→App. A2), the government decided to reduce this import tax in May 2011, in order to keep the prices on their levels despite of rising import prices.

There is some information on the Ministries website, perhaps including information regarding fuel prices; however, the English version does not work as of May 2011.

"Fuel pricing policy:Fuel prices were deregulated until 2012. Government frequently adjusts excise taxes on fuels to keep prices stable. A proposal to regulate gasoline prices was accepted and a price control council was established in Jan 2012 to regulate gasoline, food, and public transport prices. The Bank of Mongolia in late 2012 granted soft loans totaling US$120 million to fuel importers to keep prices low."

(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)

Fuel Prices and Trends

Gasoline 95 Octane Diesel
in USD*

in Local Currency

* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil

Fuel Price Composition

Price composition.

There are import taxes on fuel, while fuels are exempted from VAT (see. →App. A2 and A3).

No further information available.

At a Glance

Transparency of
Price Composition
Transparency of Pricing
Mechanism / Monitoring
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Ministry homepage available in Mongolian language only.

Sources to the Public

Type of Information Web-Link / Source
Other Information http://www.mmre.gov.mn/ (Ministry of Mineral Resources and Energy; in Mongolian language)
Other Information http://www.infomongolia.com/ct/ci/592/ (A1)
Other Information http://www.infomongolia.com/ct/ci/641/56/Mongolia_has_one_month_of_fuel_reserve (A2)


Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices

This is a living document. If you have any comments or suggestions, please feel free to contact us: Armin.Wagner@giz.de

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