Price ceiling for fuel will be set 10-15% below Russian price - Oil & Gas Minister
13:03, 5 March 2012
ASTANA. March 5. KAZINFORM Retail price ceiling for fuel will be set 10-15 percent below the Russian price, Kazakh Minister of Oil and Gas Sauat Mynbayev told the Governmental Hour on Monday.
"According to the resolution adopted by the Government in February, the price ceiling is set by the Kazakh Agency for Natural Monopolies Regulation. The formula for setting the limit price of fuel includes a variety of indicators: the world oil price, transportation costs, domestic taxes. This is a complicated formula, but ultimately, it helps keep prices lower by 10-15 percent than Russian prices," Mynbayev said.