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Government to set higher retail price ceiling for fuel: Oil and Gas Minister

27 july 2011, 01:54
Photo courtesy of wordpress.com
Photo courtesy of wordpress.com
In the nearest time the Government will set a higher retail price ceiling for fuel, Minister of Oil and Gas Sauat Mynbayev announced July 26 on the sidelines of a government’s sitting.

Kazakhstan’s Ministry of Oil and Gas set a price ceiling for fuel for July. “In accordance with a resolution adopted at a recent sitting on stable domestic prices for fuel, retail price ceiling for AI-92-93 has been set at $0.7, for AI-80 at $0.57 and for diesel fuel at $0.59 per liter”, the Ministry’s Press Service reported June 30.

Recently gas stations have been complaining that the retail price ceiling set by the government with wholesale prices being unregulated is loss-making for the gas stations.

“A little hike prices will take place (…) there will be no sharp price hikes, nor fuel shortages. The Ministry will arrive at some agreement on wholesale prices as well”, the Minister said.

“In Russia prices for all types of petroleum products have grown, and some gas stations in Kazakhstan, starting with Helios chain, took advantage of the situation, setting prices higher than those set by the Ministry. Disciplinary measures will be taken fast”, he said, adding that “wholesalers will be selling fuel at a level enabling retailers to gain reasonable margin”.

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