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Fuel and lubricants prices on rise in Kyrgyzstan

Over the month, gasoline in Kyrgyzstan on average grew in price by 0.8 soms or by 2 percent, and diesel fuel — by 2 soms, or by 5 percent. The Association of Oil Traders of Kyrgyzstan reported.

The growth in wholesale prices for petroleum products continues on the Russian market.

Over the past month, the cost of gasoline in Russia increased by 3-5 percent, diesel fuel — by 7 percent.

«The increase in the cost of wholesale shipments of petroleum products is associated with the growth of quotations for oil raw materials in the world market observed since the end of 2017. In January 2018, they reached the maximum level for the past three years — more than $ 69 per barrel,» the Association said.

Another reason for the rise in price of fuel is an increase in demand for fuel and lubricants in Central Asian countries, in particular, Uzbekistan and Kazakhstan.

The Association warned about possible increase in retail prices for petroleum products on average by 4-6 percent during February.

At the same time, oil traders are going to continue the policy of smoothing the price increase and avoiding price hikes.