Belneftekhim pegs fuel prices to dollar

Fuel prices will rise gradually; a litre of AI-92 petrol will cost 1 dollar.

As charter97.org learnt from the press service of Belneftekhim, Belarus will use a new approach to further changing fuel retail prices.

A decision was taken to set petrol AI-92-K5-Euro as the indicative fuel grade and adjust its price in accordance with the dollar rate.

“The maximum retail price of petrol AI-92-K5-Euro will be gradually raised to the size equal to 1 US dollar per litre. The price of this petrol grade will be adjusted regularly depending on the Belarusian ruble rate against the US dollar,” the concern informs.

Prices of other oil products will be adjusted to preserve the current ratio between AI-92-K5-Euro petrol and other fuel grades.

“The adjustment of retail prices depending on the dollar/ruble rate will allow combining state and market price control and making the current fuel pricing mechanism in Belarus closer to the world practice,” Belneftekhim says.

“The new mechanism will give an opportunity for oil refineries to more quickly react to changes in prices of raw oil that Belarusian oil refineries buy in Russia for foreign currency on a prepaid basis,” Belarusian oil processing plants complain.

“The price of 1 litre of the indicative fuel grade AI-92-K5-Euro equal to 1 dollar will allow securing minimum operational efficiency of Belarusian oil refineries and giving opportunities for their further upgrading,” Belneftekhim's press service says.

New factory and retail prices of oil products were set to implement the strategy. Retail prices of petrol and diesel fuel sold at filling stations were raised by an average of 4.1% on September 9.

Unleaded petrol Normal-80 and AI-80-K3 (AI-80-K4, AI-80-K5) will cost 9,150 Belarusian rubles per litre; AI-92-K3 will cost 9,900 rubles; AI-92-K5 and unleaded petrol AI-92-K5-Euro will cost 10,100 Belarusian rubles; AI-95-K5 and unleaded petrol AI-95-K5-Euro will cost 10,850 rubles; diesel fuel DT-L-K4 grade С and DT-З-K4 grade F will cost 10,950 rubles; diesel fuel DT-L-K5 grade С and DT-З-K5 grade F will cost 11,150 rubles; diesel fuel DT-З-K5 class 2 will cost 12,600 Belarusian ruble per litre.