PetroKazakhstan Supports Government’s Efforts in Stabilizing Fuel Market

To further stabilize Kazakhstan’s fuel market the RK Government established a Working Group consisting of the Ministry of Energy and Mineral Resources and oblast akimats, on the one hand, and fuel suppliers, on the other hand. On January 25, 2010 the Working Group signed a Protocol to approve the following fuel pricing mechanisms and supply terms:

  1. The retail price for AI-92 and AI-93 gasoline grades for February 2010 is set at 82 tenge/liter, for AI-80 gasoline grade at 62 tenge/liter, and for diesel at 67 tenge/liter.
  2. It was decided not to regulate wholesale prices of oil product manufacturers.

PetroKazakhstan Trade House (PKTH) supplies oil products made by one of the three Kazakhstan refineries – PetroKazakhstan Oil Products – to seven regions of the country: Almaty, Zhambyl, South-Kazakhstan, North-Kazakhstan, East-Kazakhstan, Karaganda and Kyzylorda oblasts, as well as to Almaty city and KTZh NC AO.

In accordance with its commitment to ensure wholesale fuel supplies on equal terms, PKTH sent to the above mentioned recipients and market participants letters with its proposed prices. The proposed wholesale prices were not higher than the prices of other fuel market participants, were based on real demand and included transportation, security and oil base storage costs. For example, PKTH’s current wholesale price for gasoline AI-92 is 69 tenge/liter.

Positive feedbacks have been received almost from all oblast akimats, except South-Kazakhstan Oblast, with which, however, a verbal agreement has been reached with regard to delivery prices.

Even in conditions of serious oil product shortages in 2009 PKTH kept the wholesale price for AI-80 gasoline at 36 tenge/liter, following the policy for governmental regulation of wholesale prices in the fuel market. Moreover, the average difference between PKTH’s wholesale price compared with the market wholesale prices sometimes reached 30 tenge per liter, and 50-60 tenge per liter compared with retail prices.

This year again, PetroKazakhstan demonstrates its active support for the Government’s strategy aimed at fuel market stabilization, which will be in line with consumers’ interests.

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