Kazakhstan looks to solve problem with shortage, high price of fuel

Oil&Gas Materials 17 October 2017 16:53 (UTC +04:00)

Baku, Azerbaijan, Oct. 17

By Ali Mustafayev – Trend:

Energy Minister of Kazakhstan Kanat Bozumbayev gave a forecast for the cost of gasoline AI-92 in Kazakhstan, at the meeting of the country’s government.

"We believe that the average price in late October-early November should be 160-161 tenge per liter and lower,” he said, Kazakh media outlets reported.

Currently Kazakhstan is experiencing certain problems with fuel, since three of the country's refineries are being modernized. To compensate for lack of fuel for domestic consumption, Kazakhstan is currently importing fuel from Russia, which is more expensive, compared to the local one.

“Russian gasoline is more expensive and its price in Kazakhstan may reach 171 tenge," the minister added.

The minister stressed that the problem of the gasoline shortage in local market will be solved in the near future and there will be no more limits for refueling for all the major networks.

“Yes, the price is high, but in other case we won’t be able to import gasoline from Russia. In October, the share of Russian gasoline in Kazakh market should be about 40 percent, in November we assume its decline to 30 percent, in December - below 20 percent,” he forecasted.

He added that Kazakhstan expects production of 170,000 tons of AI-92 gasoline at two large refineries - Atyrausky and Shymkent.