President of the Association of Oil Traders of Kyrgyzstan Kanat Eshatov informed the Kabar agency that the cost of fuel and lubricants (GSM) in the country may increase by 3 soms. According to him, this is related to the rise in wholesale fuel prices in Russia, where prices at refineries have increased by 19%. If domestic companies start purchasing and selling fuel at the new prices, the retail price of a liter of GSM in Kyrgyzstan may rise by 2.5–3 soms.
Eshatov noted that price changes do not happen instantly. Companies are unable to import the entire volume of fuel in one day, as each of them has their own reserves calculated for one or two months. When a new batch of fuel arrives, companies take into account the average cost based on their existing reserves. Thus, the price may increase by 30 tyiyns in one week and by 40 tyiyns the next. If this trend continues, ultimately the cost of a liter may rise by 2.5–3 soms,” he added.
