Kazakhstan not to increase fuel and lubricant prices

Oil&Gas Materials 30 July 2014 17:38 (UTC +04:00)

Astana, Kazakhstan, July 30

By Daniyar Mukhtarov - Trend:

The prices for fuels and lubricants are not expected to be increased in Kazakhstan, Kazakh Oil and Gas Minister Uzakbai Karabalin said at a briefing in Astana on July 30.

"I should stress that the price for petrol and diesel fuel will remain unchanged in Kazakhstan on August 1," he said. "Generally, I must say that the fuel and lubricant price adjustment is discussed monthly. The offers are announced as part of the meetings of the inter-ministerial committees, the Agency for Regulation of Natural Monopolies, the Ministry of Economy and the government as a whole. However, this does not mean that petrol rises in price monthly."

"Petrol in Kazakhstan is cheaper than in the bordering countries, namely Russia, China, Kyrgyzstan and Uzbekistan," he said. "The same can be said for European countries."

"Our fuel is one of the cheapest," the minister said. "Unfortunately, it is necessary to take into account the realities of the economic situation."

"It is necessary to understand that Kazakhstan's economy can not be considered in isolation from the global economy," he added. "The situation on the market of oil products is clear evidence. The artificial containment of fuel and lubricant prices adversely affects it."