This decision is approved by the Ministry of Oil and Gas, Ministry of Economy and Budget Planning. One has changed the maximum retail prices for some types of fuels and lubricants (POL).This information was presented to Business Portal Kapital.kz by the press services of the Agency for regulation of natural monopolies. 

Price caps on retail sales of petroleum products which are set government price controls, including VAT:

Diesel – 102 Tenge per liter;

AI-80 – 89 Tenge per liter;

A-92 – 115 Tenge per liter.

The order of the Agency “On the establishment of maximum prices for the retail sale of petroleum products, which is set government price controls” of 24 October of  this year has been agreed with the Ministry of Oil and Gas, Economy and Budget Planning of the Republic of Kazakhstan.

According to information presented by the Ministry of Oil and Gas of the Republic of Kazakhstan as of October 15 this year, the value of quotes for Brent reached 109.65 dollars per barrel. In addition, since January one has increased tariffs for railway transportation of oil products in domestic traffic by 44 % on average. This is due to unification of tariffs by types of traffic (domestic, export and import), in accordance with the requirements of the WTO and the Treaty on the regulation of access to rail transport services, developed within the framework of the Customs Union and the Common Economic Space.

Earlier, it was reported that the price of 1 liter of АИ-92 will be increased from 110 to 117 Tenge.  It was assumed that the corresponding order will be agreed until 12October of this year.

It should be noted that the price of АИ-92/93 had not changed since October of the last year till the date of the order and was at the level of 110 Tenge.

In accordance with the law on state regulation of sales of petroleum products, the Agency for regulation of natural monopolies can set price caps on retail POL sales, which are established the state price controls (diesel, АИ-92/93, АИ-80) in consultation with the ministries of oil and gas, economy and budget planning.

At the same time, the Ministry of Oil provides the Agency for regulation of natural monopolies with monthly data on international crude oil prices prevailing during the period from the 15th day of the previous calendar month to the 14 day of the current calendar month.

Source: Business Portal Kapital.kz.