Kazakhstan may abandon state regulation of gasoline and diesel prices

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Adyrna.kz Telegram

Kazakhstan may abandon state regulation of gasoline and diesel fuel prices, reports the national portal “Adyrna” citing KazTAG agency.

“Currently, gasoline and diesel fuel prices in Kazakhstan are among the lowest in the world. This price difference creates a significant gap compared to neighboring countries. For example, AI-92 gasoline costs 205 tenge per liter in Kazakhstan, 288 tenge in Russia, 385 tenge in Kyrgyzstan, and 489 tenge in Uzbekistan. Diesel fuel is priced at 295 tenge per liter in Kazakhstan, 355 tenge in Russia, 427 tenge in Kyrgyzstan, and 528 tenge in Uzbekistan. Thus, there is a price difference ranging from 40% to 138% for AI-92 gasoline and 20% to 79% for diesel fuel. This situation leads to shortages, hinders the modernization of the industry, and causes the illegal export of fuel,” explained the Ministry of Energy.

The Ministry of Energy announced a transition to a “stable price formation model” policy, which aims to establish a market balance between supply and demand, eliminate fuel shortages, encourage the modernization of the oil refining industry, create new jobs, and attract long-term investments.

“The main principles of this policy ensure that changes occur gradually and predictably. Social support measures will continue to protect the interests of citizens. Agricultural producers will be guaranteed access to diesel fuel, which will be available through transparent schemes and at favorable prices. The Ministry of Energy, in cooperation with other relevant state bodies, will strengthen market control, ensure compliance with legislative requirements, and monitor the continuous supply of fuel to the domestic market,” the ministry stated.

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