National Economy Minster predicts solid fuel prices hike

ASTANA. KAZINFORM - Solid fuel prices will rise across Kazakhstan, Minister of National Economy Timur Sulemenov said at the session of the Government on Tuesday, October 3.

At the session, Minister Suleimenov stressed that despite relatively stable inflation rate from March till September, where monthly inflation totaled less than 0.5%, inflationary tendencies may strengthen till the end of this year amid potential risks.

"Given seasonal factors and many holidays, the Q4 traditionally sees sharp rise in vegetable and farm products prices. The scheduled repairs at the Pavlodar oil refinery (September 20 - October 25) is likely to cause irrational fuel price hikes that may lead to higher prices and tariffs on other products and services. During the heating season some regions observe rise in solid fuel prices. For instance, solid fuel prices rose by 19% in Astana, 16.4% in Almaty region and 10.6% in Akmola region. At the same time, it should be noted that the solid fuel price remains stable in other regions of the country," the minister said.