Kazakhstan raises fuel prices

Kazakhstan’s Agency for Natural Monopolies Regulation has changed the ceiling prices for regulated fuel, Tengrinews.kz reports citing the Agency’s press-service. This is related to the Brent oil price growth from $104.09 to $114.8 per barrel. “The ceiling prices for retail sales of oil products subject to state regulation, effective on October 3, shall be set as follows, VAT inclusive: - Diesel fuel – 94 tenge ($0.63) per liter;- AI-80 – 89 tenge ($0.6) per liter;- AI-92 – 110 tenge ($0.73) per liter,” the Agency writes.Earlier Kazakhstan Oil and Gas Ministry submitted a request to the Agency for Natural Monopolies Regulation asking it to raise fuel prices for about 10 percent. Starting from July 1, the ceiling prices for retail sales of oil products subject to state regulation, were set as follows, VAT inclusive:- Diesel fuel – 90 tenge ($0.61) per liter;- AI-80 – 86 tenge ($0.59) per liter;- AI-92/93 – 106 tenge ($0.72) per liter.