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Petrol prices to grow 12-14% from September

19 august 2011, 10:23
0
©REUTERS/Vasily Fedosenko
©REUTERS/Vasily Fedosenko
Kazakhstan’s Government plans to raise retail price ceiling for fuel by 12-14% starting from September 1, KazTag reports, citing an unnamed source in the Oil and Gas Ministry.

“Thus, a liter of AI-92 will cost $0.82”, the source said. However, he was unable to explain the reasons behind the fuel shortages. “Most likely, it is related to fuel price in the neighboring Russia. Kazakhstan and Russia are within the same Customs Union, so all the petrol goes there”, he said.

Tengrinews.kz reported earlier that since the start of the year petrol price had grown by 17.4%, with prices set by oil refineries growing by 23%. Retail prices for diesel fuel have grown by 20% since the start of the year.

Besides, Tengrinews.kz reported that In January – July 2011 petrol production in Kazakhstan had dropped 16% as compared to the like period of 2010.

According to the stats, production figure for the period made up 1.5 million tons, 15.9% down against the same period of 2010.

As of today there are 3 oil refineries in Kazakhstan [based in Pavlodar, Atyrau and Shymkent]. In 2010, the three refineries processed a total of 13.7 million tons of crude, 570 000 tons over the plan.

Late July Kazakhstan had set retail price ceiling for fuel for August. Retail prices for petrol in August will look as follows: $0.72 per liter of AI-92/93; $0.58 per liter of AI-80; and $0.61 per liter of diesel fuel.
The ban on fuel exports has been expanded to the end of the year.

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