Kazakhstan Set to Pull Price Limits for Fuel and Lubricants
Photo: Olga Ibraeva, Orda.kz
The head of the Agency for the Protection and Development of Competition, Marat Omarov, spoke at a round table on economic liberalization and announced the upcoming removal of fuels and lubricant price limits, Orda.kz reports.
According to Omarov, a decision was made to cancel price caps and work with major players to monitor compliance with antitrust legislation. Previously, the company TOO Petrosun occupied about 50% of the market.
The demonopolization commission decided to return this asset to KazMunayGas's structure. Now, the state controls about 80% of the wholesale market of fuels and lubricants through the KMG company group and the newly reestablished TOO Petrosun. The next step will be deregulating the price limit at refueling stations.
The regulatory agency's head emphasized that these reforms follow from the decree, and decisions on them have already been made.
Operations are underway to inform large networks about the regulations for complying with antimonopoly legislation. The main goal is gradually reducing price controls, especially in the retail segment.
Original Author: Olga Ibraeva
Latest news
- Orda.kz Editorial Team to Cease Operations on September 1
- The Price of a Degree: How Students in Kazakhstan Pay for University
- Second Przewalski’s Horse Foal Born as Species Returns to Kazakhstan
- Kazakh Mining Companies Can Recalculate Purchases if Tenge Weakens
- Kazakhstan Names First Vice President in Three Decades
- What Almaty’s Bus Shelters Are Missing
- 400-Truck Queue Builds at Kazakh–Kyrgyz Border
- Kazakhstan Ready to Help Feed and Rebuild Gaza
- Tokayev Establishes New Presidential Security Body
- Almaty Takes Back Its Nearly Century-Old Hippodrome
- No More Guesswork on Savings: Kazakhstan Tightens Energy Audits for Businesses
- Public Money Could Be Used to Rescue Failing Kazakh Banks
- Third Kazakh Woman Reported Missing in Nepal-China Flood Zone
- Falconer Convicted Over 35 Protected Birds, Spared Punishment Under Amnesty
- Kazakh Citizen Detained in Yakutia in Phone Fraud Case
- Yuan Instead of Dollars? KazMunayGas Draws Record Demand in Asia
- China Gains Oil-Market Influence as OPEC+ Weakens
- Kazakhstan to Divide Smartphones Into White, Gray and Black Lists
- Kazakhstan’s Government Formally Resigns as First Kurultai Session Opens
- Rare Lynx Sighting Recorded in Northern Kazakhstan
