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ALMATY, April 3 (Reuters) - Kazakhstan plans to raise
its ceiling on 92/93-octane gasoline prices by 11% and that on
diesel by 20% in order to bring them into line with those in
neighbouring countries, acting energy minister Bolat Akchulakov
said on Monday.
The oil-rich nation has some of the world's lowest fuel
prices and keeping gasoline cheap through price controls has
been one of the pillars of state policy for years.
But price disparities with neighbouring countries have led
to illegal exports and price regulations have made the refining
industry unattractive for investors, leaving Kazakhstan's
domestic market with fuel shortages.
The increases will raise the price of gasoline to 205 tenge
($0.45) per litre, or $1.70 per gallon, while the diesel price
will rise to 295 tenge per litre, or $2.50 per gallon.
Hiking gasoline and diesel prices is a politically risky
move though, as a sharp increase in the price of another car
fuel, liquefied petroleum gas, prompted street protests in early
2022 which developed into violent riots.
($1 = 452.7300 tenge)
(Reporting by Olzhas Auyezov; editing by Jason Neely and Hugh
Lawson)
Messaging: olzhas.auyezov.thomsonreuters.com@reuters.net))
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