Fuel Prices Will Grow in Kazakhstan as a Result of Customs Union

    Prices of petroleum products on the domestic market in Kazakhstan after entry into the Customs Union of Belarus, Kazakhstan and Russia, will inevitably grow, explained the Minister of Energy and Mineral Resources Sauat Mynbaev at a government meeting on Tuesday.
    "When the borders are opened under the Customs Union, the movement of goods will be considerably simplified in comparison with what we have now. Whether we like it or not, we will inevitably have more or less comparable prices on petroleum products," said Mynbaev.
    He noted that there may be differences between the regions. For example, it is impractical to transport from the south to the territory of Russia but we will have to reckon with the fact that the prices, if not at the same level, will fluctuate within a corridor. This is the inevitable result of the establishment of the Customs Union, he concluded.
    As the Prime Minister Karim Masimov said at a Government meeting on October 27 this year, "given the fact that on November 27th, all documents in the Customs Union will be almost ready for signing, from January 1st 2010, we will have to live in a new legal framework," according to KazInform.