Prices of petroleum products in Kazakhstan will be correlated with the prices on the Russian market

Astana. December 9. Silkroadnews - Limit prices regulated by the Government of the RK for types of fuels and lubricants (POL) and excise rates on petroleum products in Kazakhstan will be recalculated monthly and correlated with the prices on the Russian market, KazTAG reports citing First Deputy Minister of Energy of the Republic of Kazakhstan Uzakbay Karabalin.
"In order to stabilize the situation in the domestic market of petroleum products in the Republic of Kazakhstan it is decided to harmonize the system of pricing policy on regulation of government price caps on fuel with the Russian Federation. Our prices are correlated with the prices in Russia, vary depending on changes in prices in Russia, which supplies one-third of consumed gasoline in Kazakhstan", - said the Karabalin a briefing on the pricing of petroleum products in Astana on Tuesday.
He also said that being developed rules for setting price limits for regulated oil products with the prices in Russia, and from January 1, 2015 price caps will be set monthly by the Ministry of Energy of the Republic of Kazakhstan in coordination with the Ministry of National Economy.
"The rules also provide obtaining traders margin, avoiding getting their windfall. For this purpose, in addition to the monthly allocation of prices for regulated government types of fuel, will be a monthly allocation of excise taxes",- said U. Karabalin.
He recalled that in Russia and Kazakhstan, the cost of fuel on the domestic market is made up of the cost of gasoline or diesel fuel, plus excise duties, VAT and the margin of the seller.