Fuel and gas price increase: Energy Ministry announces timeline

Tengrinews.kz - Kazakhstan’s Minister of Energy, Almassadam Satkaliyev, has announced the timeline for fuel and gas price hikes.

The official reminded that the decision to liberalize gas prices was made by the Energy Council under the President of Kazakhstan.

"There will be a gradual increase in liquefied petroleum gas prices. As for commercial gas, there are also certain indicators tied to price growth. The key message is that the government will retain regulatory and administrative control, meaning that a sharp price surge will not be allowed," Satkaliyev said at a government briefing.

The minister noted that prices will rise in the near future.

"For petroleum products, we expect a gradual increase starting this February. As for liquefied gas, the price will rise very soon. The first price hike for commercial gas market participants is expected this summer," Satkaliyev added.

An extended government meeting is taking place in Astana with the participation of the Head of State. Officials will review the country's socio-economic development results for 2024 and outline key priorities for the near future. Presentations will be given by Prime Minister Olzhas Bektenov, National Bank Chairman Timur Suleimenov, and several regional akims (governors).

Tokayev urges banks to support infrastructure development and economic growth