ArmInfo. There's no point in hoping that oil prices will return to their previous levels anytime soon. This opinion was expressed by Martin Galstyan, Chairman of the Central Bank of Armenia, during a press conference on September 15.
In this regard, he noted the reduction in the number of tankers transiting the Strait of Hormuz and the decline in US strategic petroleum reserves, which fell from 700 million to 300 million barrels (as of late August/early September 2026 - ed.).
Speaking about the impact on consumer prices in Armenia, Galstyan noted that gasoline consumption accounts for approximately 5% of the consumer basket, yet prices are rising. "That is, multiplying 5% by the price change gives you inflation." The price is currently significant – it has reached 580-600 drams per liter, which is significantly different from even a few months ago. But this is a significant factor," the head of the Central Bank noted.
It's worth noting that, according to statistics, gasoline and diesel fuel prices increased year-on-year (August 2026 vs. August 2025) by 11.7% and 25%, respectively, while a year ago, gasoline prices fell by 2.9% and diesel fuel by 2.4%. Liquid hydrocarbons (butane, propane, etc.) increased in price by 23.6% year-on-year.
