Published 04th March, 2014
Fuel and lubricants prices frozen by Kazakhs for the first quarter of 2014.
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A Kazakh petrol station Image: idrive.kz |
Devaluation of Kazakhstan's national currency, the tenge, on 11th February, has led to discussions about the increase of costs on fuels and lubricants.
The Kazakh Agency for Regulation of Natural Monopolies, which is responsible for the freeze, has indicated that any "unreasonable" increase in prices will be met with stringent measures including potential fines.
Kazakhstan imports 1.7 million tons of fuels and lubricants as well as 600,000 tons of diesel fuel, some from Russia.