Kazakhstan's Shift in Fuel Regulation Strategy

Kazakhstan's Ministry of Energy will discontinue regulating retail gasoline and diesel prices locally. Instead, it will manage petroleum prices at larger networks, aiming to mitigate fuel shortages and boost production efficiency.

Kazakhstan's Ministry of Energy has announced a strategic shift away from state regulation of retail gasoline and diesel prices in the domestic market. This significant policy change was revealed in a draft order published on Friday.

The government plans to maintain regulatory control over petroleum prices at major gas station networks, ensuring stability in larger market segments. The move is designed to balance market forces while safeguarding consumers.

The ministry aims to leverage this new pricing strategy to minimize the risks of fuel shortages and enhance the efficiency of the country's fuel production industry, signaling a proactive approach to energy sector challenges.

(With inputs from agencies.)