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Prices for fuels and lubricants in Kyrgyzstan may grow by 5-10 percent

Retail prices are expected to grow within 5-10 percent, depending on the type of fuel, in the next month. The Association of Oil Traders of Kyrgyzstan reported.

Since the beginning of the year, 325,800 tons of oil products have been imported to the republic, including 160,600 tons of gasoline and 165,200 tons of diesel fuel.

On average, gasoline in the country grew in price by 0.75 som (1.9 percent), diesel fuel — by 2 soms (5 percent).

«The main reason for the increase in the cost of fuel is the increase in wholesale prices at Russian refineries, observed since the beginning of the year, which accelerated in mid-May. If from January to April the growth in prices on the Russian market was about 6 percent, then only in May they went up by 10 percent,» the association noted.

This is due to the impact of a number of factors, the main of which is the growth in world oil prices, which continues for the sixth consecutive week. Only in May, prices rose by 9-10 percent.

«Taking into account the circumstances, the increase in retail prices for fuels and lubricants in Kyrgyzstan is inevitable. Oil traders intend to continue the policy of smoothing the price increase and prevention of price hikes,» the association summed up.