Kazakhstan releases prices for AI-92 to float freely

The government of Kazakhstan has decided to abandon state regulation of prices for AI-92 gasoline, First Deputy Prime Minister Bakytzhan Sagintayev reported.

He explained this is due to the increase in the exchange rate of the ruble against the tenge in connection with the transition of the republic to a floating exchange rate of tenge.

"To date, our dependence on the Russian fuel market remains at a level of around 30%. Taking into account the growth in the value of the ruble from 2.5 to 3.6 tenge per unit of Russian currency, there is a risk of a deficit due to an increase in purchasing prices. In order to avoid such a situation, we decided to release the prices for A-92 gasoline," Trend quoted the First Deputy Prime Minister as saying.