AI-92 gasoline price jumps as much as 15% over year in Kazakhstan

810,300 tonnes of motor fuel have been produced in the country for Q1 2017. This is 17.5 per cent more than a year ago, energyprom.kz reports. 

In a long period view, after lowering of outputs in 2015 (minus 5.1% over a year), Kazakh refineries won back their positions in 2016 as the year ended with 2.8% growth up to 2.95 million tonnes.

Kazakh producers provide over 70% of the gasoline demand (70.4% as per Jan-Feb 2017). At the same time, alongside the output growth the import has also increased up to 237,100 tonnes or by 60.3 per cent over a year according to the results of two months.

Kazakh Minister of Energy Kairat Bozumbayev stated "After modernization of oil refineries the quantity of refined oil will increase from 14.5 to 17.5 million tonnes. The volume of refined light oil products, i.e. gasoline, diesel and aviation fuel, will go up. Therefore, after 2019 we expect to meet the country's total domestic needs with our local oil products and eliminate dependence on fuel and lubricants imports".

According to results of April 2017, the average price for the most popular gasoline grade AI-92 have grown by 14.8 per cent against April 2016 up to KZT142.1 a litre. However, in comparison with March the price has slightly decreased (by 0.1%). The energy minister commented on AI-92 price lowering in KazMunayGas filling station chain that stated that the gasoline has gone down in value to KZT142. "The market was overstocked, and the demand lessened.", he said. The ongoing trend of Kazakh tenge appreciation against US dollar helped to cheapening of fuel imported from Russia. Moreover, AI-92 stock level in Kazakhstan stabilised the level of the wholesale prices at the market.

As of the end of April, a more expensive gasoline grade AI-95/96 has gone up by 11.8% over a year and by 0.1% over a month up to KZT154.9 a litre. Year-over-year rising of AI-98 price has reached 6% up to KZT164.3 a litre.

Owners of diesel-engine cars felt the price rises: summer diesel fuel has inflated by 34.8pct up to KZT132.7 a litre, while the winter fuel has increased by 12.7pct up to KZT171.2 a litre. In April alone summer and winter diesel fuel prices have grown by 0.8pct and 0.5pct respectively against March.