Kazakhstan beat Russia in petrol prices

Kazakhstan has surpassed Russia in the cost of petrol among European and CIS countries based on 2011 end of year results, RIA News reports. When compiling the ranking, the experts of RIA-Analitika from the Center for Economic Research studied 95 octane petrol prices in 32 countries. The data used was up-to-date in December 2011. The average per liter cost of petrol in Kazakhstan was 0.95 dollars. The country went two points up the list by and became the 30th. Previously Kazakhstan was in the bottom of this ranking. Now Belarus comes last (0.74 dollars per liter), and Russia is one point up (0.89 dollars). The most expensive petrol in December 2011 was sold in Norway: 2.32 dollars per liter. Italy jumped from the 5th to the 2nd place, there an average cost of one liter of 95-octane petrol was 2.18 dollars. The experts say that the increase in fuel cost in Italy is related to the worsening debt crisis. This trend also explains the rise in petrol prices in Greece that comes 3rd in the ranking. One liter cost 2.14 dollars there. Petrol cost increase in some countries is attributed to lack of local oil or in-country produced petrol. Compared to the end of September, December petrol prices went up in Belarus (+ 17.3%), Italy (+4.3%) and Kazakhstan (also +4.3%). What concerns diesel, in the last quarter of 2011 it was getting cheaper in 21 countries out of 32. The most expensive diesel was sold in the United Kingdom, Norway and Italy. The cheapest one was offered in Kazakhstan, Russia, and Belarus.