25 percent raise of fuel prices expected in Kazakhstan

Prices of oil products may increase 25 percent, KazTAG reports. The Ministry of Oil and Gas is already defining the policy and setting fixed prices. Oil and Gas Minister Sauat Mynbayev held a meeting dedicated to this issue. A sharp turnabout in prices is related to a possible increase in prices of oil products in Russia. Information on the possible fuel prices raise at Kazakhstan fuel stations has confirmed by Helios company, the largest fuel selling network in Kazakhstan. It said that people are stocking up on fuel in almost all the regions of Kazakhstan. Similar things happened on April 28 when the information about Russian prices growth was released. Sinoil fuel company - another large network of fueling stations in Kazakhstan - said that some of the fuel stations were closed. Earlier Tengrinews.kz reported that Kazakhstan Customs Brokers Association forecasted a sharp raise in fuel prices. As per the Association, the cost of fuel in Kazakhstan will grow together with the prices in Russia that is currently undergoing a fuel crisis.