Gasoline imported from Azerbaijan to Armenia is being used up at a fast pace.

Axar.az, citing Armenian media, reports that Economy Minister Gevorg Papoyan told journalists during a briefing.

“Azerbaijani gasoline is being used up very fast – the more we import, the faster it is consumed. When it runs out, prices for other types of gasoline increase,” he said.

Papoyan added that before these imports, regular gasoline in Armenia cost between 500 and 520 drams per liter.

Discussing the outlook for bilateral trade, the minister said the two countries have exchanged lists of products for potential export.

“Azerbaijan has provided us with a list of products for export to Armenia, and we have presented our own. However, there are no significant competitive advantages yet – trade is still in the formation stage. I am confident there is potential for bilateral trade worth hundreds of millions of dollars, but it will take time,” Papoyan said.