BAKU, Azerbaijan, November 5. Uzbekistan has seen a sharp rise in fuel demand in recent years, prompting increased imports of gasoline, crude oil, and condensate, said Yernar Akhmettayev, Senior Research Analyst at Eurasian Energy Service, S&P Global Commodity Insights, during a recent webinar, Trend reports.
"Fuel production in Uzbekistan is mainly carried out at three oil refineries - Bukhara, Fergana, and Chinaz - all of which are undergoing modernization. In addition, the Uzbekistan GTL complex, which processes natural gas, produces synthetic fuels," he noted.
According to Akhmettayev, Uzbekistan GTL produced 349,000 tons of synthetic diesel in 2024, accounting for around 37% of the country’s total output. "Refining in Uzbekistan shows a positive trend," he said. "In 2024, total production reached about 3.1 million tons".
The analyst added that gasoline output has been increasing by about 2% annually, while diesel production fell by 20% in 2024 to 950,000 tons. Most domestically produced gasoline remains RON80, but as part of the Uzbekistan 2030 strategy, the government plans to limit the use of lower-grade fuels and switch to higher-quality products.
Fuel demand, however, has grown much faster than production. "From 2019 to 2024, gasoline demand in Uzbekistan rose by an average of 10% per year, reaching about 1.8 million tons annually," Akhmettayev said. "In 2024, roughly one-third of domestic gasoline supply came from imports, with Russia as the main supplier".
He pointed out that imports from Russia increased sharply - from around 100,000 tons in 2022 to over 400,000 tons in 2023, reaching about 600,000 tons in 2024.
According to S&P Global data, Uzbekistan’s visible gasoline consumption reached record levels, supported by steady economic growth and a 56% increase in passenger car numbers since 2019, totaling 3.78 million vehicles by 2024.
Meanwhile, the diesel market shows a different pattern. "Unlike Kazakhstan, Uzbekistan has seen a decline in visible diesel consumption despite overall economic growth. Although diesel imports also increased in 2024, administrative measures or unrecorded cross-border trade - known locally as 'gray imports' - may partly explain this trend," Akhmettayev explained.