Minister of Energy Almasadam Satkaliyev announced that the initial price increase for a liter of AI-92 gasoline will not exceed 5 tenge, as reported by a correspondent from the Kapital.kz business information center.
"Overall, we anticipate that the market will regulate itself (prices – Ed.), while the government will act as a limiter to prevent a sharp rise in the cost of petroleum products... As you know, the Antimonopoly Agency can initiate an investigation at any moment if it sees that gas stations are starting to earn excessive monopoly income. Market participants are aware of this. The Ministry will also take necessary measures to regulate such situations – Ed.). According to our forecasts, the first increase will be no more than 5 tenge, and we are guiding market participants by this indicator. We will respond urgently to each case if we see that prices are rising sharply," - stated Almasadam Satkaliyev at a briefing.
He specified that in the near future, the estimated price for a liter of AI-92 gasoline will be up to 210 tenge.
"The market will regulate itself; our task is to ensure a smooth price increase. We are not talking about any dramatic changes. The press has already reported increases up to 400 tenge, but these are reckless scenarios; the government will not allow this," - the minister said.
Almasadam Satkaliyev explained that local executive bodies, the Anti-Monopoly Regulation Committee, and the Ministry of Energy will conduct direct monitoring of prices for gasoline, diesel fuel, and liquefied petroleum gas "and will respond urgently to each case" of significant price increases.
"We have repeatedly stated that price increases for petroleum products are inevitable due to the need for investments in the refining industry and oil extraction enterprises. One of the goals is to replenish the budget of the Republic of Kazakhstan... Prices will rise, and we will control this to ensure it does not harm consumer interests... There is no ideal scenario. Gas stations will base their prices on their own economics. As you know, the price of gasoline is composed of several components - the cost of oil, processing costs, transportation costs, storage costs, and expenses at gas stations. Based on these factors, networks will determine the optimal price for gasoline. There will be no ideal scenarios! We expect imbalances in certain regions, and we will take appropriate measures," - said the minister.
On January 29, 2025, Kazakhstan abandoned state regulation of prices for fuel. Plans to increase retail prices for gasoline, diesel fuel, and auto gas are set for early February. Additionally, this month, there are intentions to raise the maximum wholesale price of liquefied gas. The need for adjustments is explained by the growing losses of producers in the CIS.
Previously, the list of petroleum products under state price regulation included AI-80, 92, 93 gasoline, and diesel fuel.