Acting Minister of Energy of Kazakhstan Bolat Akchulakov announced an increase in retail prices for gasoline and diesel fuel, Tengrinews.kz reports.
“In order to stabilize the domestic fuel market, it is necessary to reduce the price difference between Kazakhstan and neighboring countries. We must increase the marginal retail prices,” he stated.
The price for 92 RON and 93 RON gasoline will be increased from 182-187 (depending on the region) to 205 tenge ($0.45) per liter (an increase of 11%).
The price of diesel will be 295 tenge ($0.65) per liter. Now the price varies from 230-260 tenge ($0.51-$0.57) There will be an average increase of 20%, Akchulakov said at a briefing in Astana on Monday.
According to him, if the difference in prices is not reduced now, then Kazakhstan will face a total shortage of fuel in near future.
With such a difference in prices, the sales of fuel to neighboring countries will continue. Its volume will only increase. No restrictive measures will give the desired effect, he continued.
“Moreover, it will close the way for further development of the industry and threaten the country’s energy security,” the acting minister said.
The persistence of disparity in prices for fuel and lubricants creates incentives for the operation of the “shadow” market and damages the national interests of Kazakhstan, the minister added. Low prices for fuel also make it impossible to attract investments and develop the oil and gas industry, carry out geological exploration and replenish the resource base.
Source: akipress