Motor fuel prices raised by two percent

The retail prices of gasoline and diesel fuel in Belarus were raised by two percent on the average on December 28.

According to the Belarusian State Petrochemical Industry Concern (Belnaftakhim), 92 octane gasoline increased in price from 8,400-8,600 to 8,600-8,800 rubels per liter, 95 octane gasoline from 9,300 to 9,500 rubels, and diesel fuel from 9,400 to 9,600 rubels.

Belnaftakhim explains that the prices were increased for the purpose of “partially compensating” for the forthcoming rise in the rates of excise taxes on petroleum products, which are to increase by 14.5 percent on the average on January 1, 2014.

This is the fifth increase in motor fuel prices this year and the second in December.

On December 5, Belnaftakhim raised the prices, also by two percent, because of “a change in the Belarusian rubel’s rate against foreign currencies.”

The previous increases occurred on January 16, September 3 and September 17.

The prices have increased by 23.7 to 26.7 percent since the beginning of the year.

In 2012, motor fuel prices were raised four times, with 92 octane gasoline increasing in price by 21.9 percent, 95 octane gasoline by 23 percent and diesel fuel by 21.4 percent.

In 2011, motor fuel prices were raised 11 times, with 92 octane gasoline increasing in price by a total of 99 percent, 95 octane gasoline by 88 percent and diesel fuel by 144 percent.