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Tengrinews.kz - The price of gasoline in Kazakhstan is expected to rise by no more than 5 tenge after the state lifts price regulation, at least in the initial stage, according to Minister of Energy Almassadam Satkaliyev.
The minister noted that the Energy Ministry expects market forces to regulate prices, while the government will act as a safeguard to prevent excessive increases in fuel costs.
"Our forecast suggests that the initial price increase will not exceed 5 tenge. This is the benchmark we are setting for market participants. We will respond urgently if we see prices rising too sharply," Satkaliyev said at a briefing.
He emphasized that the government has all the necessary mechanisms to intervene, and the antimonopoly agency may launch an investigation if any fuel network begins generating excessive monopoly profits.
Reminder: Kazakhstan has officially abolished state regulation of gasoline and diesel fuel prices. The order was signed by the Minister of Energy and will take effect at midnight on January 30.
