YEREVAN. – People in Armenia do not ask how much the price of gasoline has dropped in Russia, where the oil prices have become so much cheaper. 

Member of the opposition Prosperous Armenia Party National Assembly (NA) Faction and Deputy Chair of the NA Standing Committee on Economic Affairs, economist Mikayel Melkumyan, told the aforementioned to Armenian News-NEWS.am.

He noted this reflecting on the questions as to why gasoline has not become cheaper in Armenia, despite the sharp fall in world oil prices.

“If they study, they will see that the gasoline prices have not dropped a lot in Russia,” the economist said. “The price of gasoline cannot drop as much that the price of oil has dropped. We need to see how much the share of oil is in today’s price of gasoline; it is [a mere] 10 to 12 percent, maximum.”

This notwithstanding, Melkumyan agreed that the price of gasoline should reduce to some extent.