Mongolia’s Rapid Response Task Force announced today initial findings regarding recent fuel price increases. An investigation, launched following a directive from the head of the Anti-Monopoly Authority, determined the price hikes are largely linked to global market conditions. According to B. Amarsanaa, head of the Anti-Monopoly Authority, the price of AI-92 gasoline increased from $873 per ton in September to $1,063 per ton in October – a 17.8% rise in import costs. Mongolian fuel suppliers base their pricing on international market rates, and this global increase appears to be the primary driver of the domestic price increase. The Task Force indicates a comprehensive final report will be released with further details. The investigation initially focused on the justification provided by fuel vendors for the price increases.