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Price of gasoline and diesel fuel could fall by 2 soms in May

It is planned to reduce the retail price of fuel and lubricants by an average of 2 soms in the near future. The Information Support Department of Government Office of the Kyrgyz Republic reported.

Further price dynamics will reportedly depend on the intensification of economic activity in the republic and the situation with oil pricing in the world market.

«The decision was made during the negotiations of the relevant state bodies with representatives of oil traders of the country. Uninterrupted work is currently underway to provide the republic with the necessary amount of fuel and lubricants. At the same time, measures are being taken to prevent a shortage of oil products,» the department said.

The government added that following the results of four months of 2020, a decrease in retail prices for fuel and lubricants was registered in the republic compared with their level at the beginning of the year. Gasoline fell by 2.8 soms (or 6.7 percent) on average in the country, and the average cost of diesel fell by 4.7 soms (or 9.7 percent). In addition, wholesale prices of fuels and lubricants, which are sold from oil depots, have significantly decreased. Gasoline fell by 11.6 soms (or 32 percent), and diesel — by 11 soms (or 21.3 percent).