Fuel price increase not expected in Kazakhstan

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Index_170609Anincrease in prices for fuels and lubricants is not expected in Kazakhstan in the first half of this year, the Minister of Oil and Gas Uzakbai Karabalin said following a government meeting on March 28.

“A price increase is not expected. Our refineries are working at full capacity. Therefore, you can drive relaxed until the middle of this year without any worry of a price increase,” he said.

According to him, until that time mechanism of fuel supplies from Russia will be tested.

“Today, due to the devaluation of the tenge it was not so profitable to import petroleum products from Russia as it was before the devaluation. Today KazMunaiGas national company is taking the burden,” the minister said.

He also noted that even if for some time it was necessary to work at a loss, the national company will do it in order to keep the price in the market.

Herewith, the minister said that this cost containment goes against the laws of the market.

In Kazakhstan, the government regulation applies to petrol AI -80 and diesel AI-92/93. The price of gasoline AI 95-96 and AI- 98 is not regulated and is formed in a competitive market. Current prices are set in the following sizes: diesel – 102 tenge per litre, A- 80 – 89 tenge per litre and A- 92- 115 tenge per litre.


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