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Fuel prices to remain unchanged in Kazakhstan until mid year: Oil Minister

28 march 2014, 14:34
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©Turar Kazangapov
©Turar Kazangapov

Prices for motor fuel in Kazakhstan will remain unchanged to the mid of the year, engrinews.kz repots, citing the country’s Oil and Gas Minister Uzakbai Karabalin as saying.

“We are maintaining the prices set before the country’s national currency devaluation (…) before June there should be no concerns over possible price hikes”, he said on the sidelines of a government sitting.

According to him, following the 20% currency devaluation, there are fewer of those willing to import fuel from the neighboring Russia as imports are no longer as profitable as they used to be.

“KazMunaiGas national oil company has taken the burden (…) Even if they have to work incurring certain losses, the company will be maintaining the prices at the declared level regardless of the marketing economy rules (…) there’s a [government’s] instruction to maintain the prices and we will be following the instruction”, he said.
 


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