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Ministry of Oil and Gas sets retail price ceiling for fuel

01 june 2011, 11:45
RIA Novosti©
RIA Novosti©
Kazakhstan’s Ministry of Oil and Gas has set the retail price ceiling for fuel starting from June 2011: $0.69 per liter of Ai-92/93; $0.56 per liter of Ai-80 and $0.59 per liter of diesel fuel, Bnews.kz reported.

The Ministry’s press service reports that Kazakhstan will keep on regulating retail prices at the country’s pumps even after July 1, 2011 when customs barriers between the Customs Union member states are removed.

The country’s Majilis (lower chamber) has already passed a draft legislation on state regulation of oil and petroleum products turnover. The draft legislation primarily seeks to prevent sharp price hikes for fuel.

According to the Minister of Oil and Gas Sauat Mynbayev who unveiled the draft legislation, the state will be setting retail price ceilings for a range of petroleum products.

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