Kazakhstan almost caught up with United States in fuel prices

Kazakhstan's fuel prices are approaching the ones in the U.S., Inosmikz writes citing InMaricopa.com as reporting a fuel prices drop in several American states. Petrol that corresponds to Kazakhstan's AI-92 costs $3.105 per 1 gallon (3.78 liters) in South Carolina. That means one liter of fuel costs $0.82. Kazakhstan buyers pay around $0.76 per liter of fuel in Almaty, i.e. the difference is only 8 tenge. This is despite of the fact that the average wages in Kazakhstan cannot be compared to American earnings. Besides, the U.S. import most part of the oil it consumes, while Kazakhstan produces oil in volumes much higher than required for its internal market, the magazine writes. Chairman of Kazakhstan National Bank recently stated that the fuel prices in Kazakhstan have to go down amid the drop of the oil prices in the world. Meanwhile, Kazakhstan Oil and Gas Minister Sauat Mynbayev recently stated that the Ministry was not going to review the ceiling fuel prices in the nearest time. Kazakhstan's retail fuel prices went up in April. The price for diesel fuel has gone up to 95 tenge ($0.64) per liter, AI-80 petrol now costs 91 tenge ($0.61) per liter and AI-92 costs 112 tenge ($0.76) per liter. Kazakhstan Anti-Monopoly Agency issued a decree yesterday, June 25, that will bring the Kazakhstan fuel prices somewhat down. Petrol (Kazakhstan's AI-92) will cost 106 tenge ($0.72) per liter starting from July 1. The advantage will make only 4 cents compared to the current Almaty prices.