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Kazakhstan not to increase fuel and lubricant prices

1 August 2014 14:24 (UTC+04:00)
Kazakhstan not to increase fuel and lubricant prices

By Aynur Jafarova

Kazakhstan is not planning to increase the prices for fuels and lubricants, Kazakh Oil and Gas Minister Uzakbai Karabalin said on July 30.

"I should stress that the prices of petrol and diesel fuel will remain unchanged in Kazakhstan on August 1," he said at a briefing in Astana.

The fuel and lubricant price adjustment is discussed monthly in Kazakhstan. The offers are announced as part of the meetings of the inter-ministerial committees, the Agency for Regulation of Natural Monopolies, the Economy Ministry and the government.

"Petrol in Kazakhstan is cheaper than other neighboring countries, namely Russia, China, Kyrgyzstan and Uzbekistan. The same can be said about European countries," Karabalin added. "Our fuel is one of the cheapest in the world. Unfortunately, it is necessary to take into account the realities of our economic situation,"

The minister also noted Kazakhstan's economy can not be discussed separately from global economy.

Earlier Karabalin said an increase in prices of fuels and lubricants is not expected in Kazakhstan in the first half of this year.

"A price increase is not expected in the next months. Our refineries are working at full capacity. Therefore, you can drive relaxed until the middle of this year without being worried about a price increase," he said.

In Kazakhstan, the government regulation applies to petrol AI -80 and diesel AI-92/93. The price of gasoline AI 95-96 and AI- 98 is not regulated. It is set in a competitive market.

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