Armenia's accession to the Customs Union may bring down the retail prices for Russian oil products, Armenia's Deputy Energy and Natural Resources Minister Iosif Isayan told journalists on Wednesday.
Earlier Armenia's Energy and Natural Resources Minister Armen Movsisyan said that once Armenia joins the Customs Union, Russia would give it a quota for duty-free import of up to 300,000 tons of oil products in 2014.
According to the Customs Service of Armenia, in 2013 the country imported 327,990 tons of oil products worth $362mln against 346,403 tons worth $323mln in 2012.
Some 98,289 tons and 97,184 tons were imported from Russia and Romania, respectively, 45,670 tons from Bulgaria, 40,548 tons from Israel and 31,392 tons from Iraq.
The key reason why oil product imports are on decline is that more and more car owners in Armenia are switching from petrol to cheaper gas, with 70% of local vehicles already using gas.