The price of propane on the Uzbek Commodity Exchange (UzRTSB) increased by almost 65% in two days, reaching a record 12.217 million soms per ton, after the restriction on the maximum price increase during exchange trading was lifted.
Details of the price increase
On September 16, the cost of one ton of propane was 7.412 million soms. The next day, September 17, the price rose to 11.904 million soms, marking an increase of 60.6% in just one day. By September 18, the price reached 12.217 million soms, showing an additional increase of 2.6%.
Thus, over two trading days, the price of propane rose by 4.8 million soms, which is approximately 65%. Concurrently, sales volumes increased from 666 tons to 1,114 tons, representing a growth of 67.2%.
Change in regulatory rules
On September 17, the previously established limit on the increase in the selling price of liquefied gas produced domestically and imported into Uzbekistan within the framework of exchange trading was lifted. This decision was made in accordance with the instruction issued by the Committee for Competition Development and Consumer Rights Protection on September 16.
Nevertheless, the starting price restriction remains in effect. The exchange refuses to accept bids from importers and domestic producers of liquefied gas if the starting price exceeds 7.5 million soms per ton. Thus, while the starting price restriction remains, the maximum price increase of propane directly during trading is no longer limited by the previous price ceiling.
Previously, the antimonopoly body imposed restrictions on the increase in propane prices on the exchange. In early November 2024, the maximum increase was limited to 20% of the starting price. This decision was made after the price of liquefied gas exceeded 10.1 million soms per ton. Since January 12, the maximum increase in the selling price of propane on the exchange has been reduced from 20% to 10% of the starting price. Simultaneously, bids from producers and importers were not accepted if the starting price exceeded 7.5 million soms per ton. Under this restriction, the maximum price of propane on the exchange could reach 8.25 million soms per ton.