Kazakhstan: AI-92 Gasoline Prices May Increase

The price of AI-92 gasoline may significantly increase due to price liberalization, reports Orda.kz.

Kazakhstan's Energy Minister Almassadam Satkaliyev indicated that fuel prices could rise to 300 tenge per liter.

Currently, the price ceiling is 205 tenge per liter. However, with the transition to market mechanisms, it should align with prices in neighboring markets, for example in Russia, where gasoline costs 290-300 tenge. We will work within the inflation corridor. It's difficult to predict the final price, but it will be a gradual increase. There's no clear algorithm yet – adjustments might be weekly or monthly. Much depends on our negotiations with experts and market participants,  the Energy Minister said at a government briefing.

Prime Minister Olzhas Bektenov previously warned that fuel price increases were inevitable, citing the need to attract investments in the oil and gas sector and eliminate fuel shortages.

He emphasized that changes would be implemented gradually to avoid price shocks and minimize the impact on consumers.

Original Author: Zhadra Zhulmukhametova