Kazakhstan Signals Gradual Rise in Gasoline Prices After Moratorium Ends
Photo: elements.envato.com
The moratorium on raising prices for AI-92 gasoline has ended in Kazakhstan, but the Ministry of Energy says there will be no sharp jump in prices, Orda.kz reports.
Deputy Energy Minister Sungat Esimkhanov made the statement at a government briefing. According to him, the price situation remains under control, and the state continues to monitor the market.
There will be no sharp increase in fuel and lubricants. Perhaps there will be slight, gradual growth. he said.
Esimkhanov recalled that a similar situation had already arisen when the fuel market was partially liberalised. At that time, he said, prices did not spike sharply and the process was relatively calm.
He stressed that the situation is now being monitored by several bodies at once — the Ministry of Energy, the Agency for the Protection and Development of Competition, and local akimats — in order to track developments objectively, prevent anti-competitive practices and stop artificial price hikes.
He also said these agencies are monitoring wholesale prices and possible excess profits by companies.
Therefore, I am convinced, and my colleagues confirm this, that there will be no sharp increase in fuel prices. Most likely, it will be a market-driven one. As you can see, all these types of fuel are much more expensive in neighbouring countries. So a gradual, slight increase is possible, but I do not think there will be any sharp jumps.he added.
At the same time, the gap between current AI-92 gasoline prices in Kazakhstan and neighbouring countries remains significant. While the price in Kazakhstan is about 239 tenge per litre, in Russia it is around 406 tenge, in Kyrgyzstan 453 tenge, and in Uzbekistan 505 tenge.
This price difference increases the risk of an artificial fuel shortage inside the country, because many traders have a stronger incentive to export gasoline and sell it abroad.
Original author: Alina Elgeldina
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