Kazakhstan, Astana, Feb. 7 / Trend , K.Konirova/
Prices rose at filling stations in southern Kazakhstan and this is a response reaction of the market to the government's devaluating tenge, Trend correspondent in Astana quoted representatives of giant trading companies as saying.
"The current price rise for fuels and lubricants is a response reaction of the government's step. The government sharply devaluated tenge and the market immediately reacted to it," a representative of a giant company engaged in oil product sale told Trend .
A week ago, giant traders which were informed about upcoming changes, upped price for their goods by $100. When the National Bank announced a new rate of tenge to dollar on Feb. 4, prices were upped taking 25-percent devaluation into account. Thus, one ton of diesel fuel increased from 40,000 tenge to 60,000 tenge at the moment, sources said.
"This is not a limit that prices at the Almaty filling stations increased by 12 percent. They should up as much as tenge dropped," a source said.
Specialists of retail oil product sale market said that if the government held gradual and stepwise devaluating national currency how it was in neighbor Russia, Kazakhstan would not have such a pirce jump, including for fuels and lubricants.
Another specialist believes that Russian market influences on fuel and lubricants prices in Kazakhstan.
"There is a price indicator conception. Thus, fuel and lubricants prices increased in Russia long ago, as their market reacts to changes more quickly that ours [Kazakh market]. At present world price for oil is within limits of $42-$46 per barrel. Second, it should be noted that we buy almost 40 percent of fuel and lubricants from Russia. Furthermore, one of giant Kazakh plants - Pavlodor Plant operates only with the Russian raw materials, which we buy for currency, as well. This is the so-called communicating vessels principle," the source said.
The Shimkent Plant which provides the country's south with fuel and lubricants also operate with the Russian oil by 50 percent. Therefore, a neighbor market's influence on price policy is too high.
According to official data, the Kazakh market's need in gasoline of all brands amounts to 2.5 million tons at the moment. Kazakhstan covers 30 percent of its needs through import from Russia. The remained 70 percent is own production. But, basically, this diesel fuel and gasoline is of low-bracket brands.
At present the Kazakh motor owners prefer unleaded gasoline. The lion's share in total amount of the Russian import falls on gasoline of AI-93 and AI-96 brands which is used with a great demand. Here is the relevant price for fuel and lubricants in the country.
"The Atirau Oil Refinery Plant of KazMunaygaz national company refines oil on commission, besides its raw materials. The company delivers this to plants of almost 40 private companies. They, in turn, purchase raw materials at prices which do not depend on us," the source said.
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