Prices for fuel and lubricants expected to grow in Kyrgyzstan by 10-15% in May

A gradual increase in prices for fuel and lubricants by 10-15 percent is expected in the Kyrgyz market in May, depending on the type of fuel. Association of Oil Traders reported.
Related news Price of gasoline in Kyrgyzstan falls by 2.5 soms since beginning of 2019 According to the Association, there is a sharp increase in wholesale selling prices at refineries in the Russian market of petroleum products. Thus, an increase in the cost of fuel and lubricants at Russian factories under wholesale contracts for May ranged from 10 to 32 percent compared with January 2019.
"Growth in wholesale prices of petroleum products in Russia was caused by increased demand for fuel due to a seasonal growth in its consumption. There are prerequisites for growth in prices at refineries, including due to a rise in price of oil on the world market since the beginning of 2019 (an increase of $ 16.41 per barrel, or 30 percent). Given these circumstances, fuel prices are expected to increase in Kyrgyzstan. At the same time, oil trader companies will continue the policy of smoothing price increases and preventing abrupt changes," the Association stressed.