Yesterday’s fuel price rise is the first this year, but is far from being the last.
Filling stations changed the price tags yesterday. Naturally, for ones with higher prices on them. The fuel price growth on average by 5% as of 8 July, which amounts to practically 500 roubles per liter, was announced by the Belneftekhim concern, Belarus’ monopolist in forming oil products retail prices, Belstat reports.
According to the new tariffs, a liter of the Regular-92 gasoline now costs 9300 roubles, Premium-95 – 10000, and the cheapest diesel fuel costs 10100. At the Belneftekhim they explain the price growth with the weakening of the Belarusian rouble against foreign currencies as well as the necessity to “gradually align the fuel prices in Belarus and Russia”.
In the framework of the existing economic system, experts assume, such arguments are quite objective, but there are other reasons.
“The main reason is the lack of money in the budget, and the authorities aim to cover that gap by any means available, not only by the means of loans, privatization, which by far has been hardly going, but also at the expense of the population”, - an economist Leu Marholin says.
The price growth in fuel always brings a new inflationary spiral, since the end price of any services and goods includes the costs of oil products.
This fuel price rice is the first this year, but is it the last?
An economic observer Tacciana Manienak claims that they decided to raise the fuel prices in several stages.
“Another tool was considered – the increased excise duty on oil products. I know that this was all considered in a package. It was to be assumed that the price rice would have seen approximately 10% growth, but the government did not agree and they ruled to approach raising the fuel prices in two stages”, - Tacciana Manienak says.
Another price rise may be expected already shortly, before the start of the harvesting campaign, experts say. In this way the Belneftekhim will try to compensate for at least a part of the losses that the domestic refineries face due to selling fuels to agricultural enterprises at preferential prices.