Petroleum cost increase in Kyrgyzstan caused by increase in demand in Russia

Since the beginning of September, retail prices for fuel and lubricants at retail stations of the republic have increased by an average of three percent. This is due to repair work at oil refineries in Russia, as well as an increase in demand for fuels and lubricants in Russia. This was reported by the press service of the antimonopoly authority.

According to the oil traders in Kyrgyzstan, wholesale prices for Ai-92, 95 and diesel fuel at Russian plants increased by an average of five percent between July and September. According to the Federal State Statistics Service, from the beginning of the year the prices of fuel and lubricants producers grew by 13 percent, and in September, compared to August, by two.

Oil traders work with the available fuel stocks, which will be enough for a month, and the current contracts for the supply of petroleum products from Russia are executed on time.

It is reported that the fuel market is competitive, where more than 20 companies operate. The antimonopoly body constantly monitors the situation on the fuel market and keeps it in the zone of economic and statistical observation.

«Kyrgyzstan is among the world’s top 20 countries with low prices for petroleum products. The difference in prices in different countries depends on taxes, duties and state subsidies,» the press service noted.

Earlier, the Association of Oil Traders of Kyrgyzstan forecasted an increase in prices for petroleum products.