This forecast was voiced by Minister of Oil and Gasб Uzakbai Karabalin. Fuel prices will be adjusted depending on the price of oil. However, increase in prices of petroleum products is not expected until the first quarter of 2014 in Kazakhstan. This at a plenary session in Majilis Minister of Oil and Gas was reported by Uzakbai Karabalin as informed by Kapital.kz Business Portal. 

“If we talk about prices of 2014, Agency for Regulation of Natural Monopolies and the Ministry of Oil and Gas will continue monitoring. In the event of a change in oil prices, the price will be adjusted according to the approved rules. In the end of the year price increases for petroleum products is expected. The same forecast we do on the Ist quarter of 2014″,  Uzakbai Karabalin informed the deputies.

According to the Minister of Oil and Gas, currently the average annual consumption of gasoline the most popular AI- 92, AI -93 is about 2.6 million tons. Among them, about 30% is covered by imports of Russian gas.

“At that, the retail price of this brand in Russia is more than the same in Kazakhstan by 30 tenge per liter, or about 20 %,” the Minister said.

Earlier, the President of the Agency for Regulation of Natural Monopolies, Murat Ospanov predicted decline in prices for gasoline AI- 92, AI- 93, the cost of which was raised at the end of October

“Currently one is conducting monitoring and according to the information of Ministry of Oil and Gas, the price per barrel is decreasing. If within 30 days the price has a decrease of $ 5, the price will drop by 5 tenge , for 92/93 petrol”, Murat Ospanov assured earlier in the meeting in the government.

Source: Kapital.kz Business Portal.