Bishkek, Apr. 29, 2020. /Kabar/. In Kyrgyzstan, the impact of fall in the global price of oil and decline in fuel and lubricants prices is twofold, Deputy Prime Minister of the republic Erkin Asrandiyev said at a briefing at the Government House.
"Firstly, the global drop in oil prices has affected the fall of the ruble exchange rate, and since we have close economic relations with Russia, accordingly, it has also affected the fall of the som (Kyrgyzstan's currency) against the dollar.
On the other hand, it has affected the decline in fuel and lubricants prices. From January to April 2020, there was some decline in retail prices for fuel and lubricants, primarily diesel fuel. We also monitor the prices for AI-92 gasoline. There has already been decline about 5-6%," Asrandiyev said.
According to him, oil prices are also being tracked at stock markets, where the decline is much greater.
"Three days ago, at a meeting with relevant state bodies, instructions were given to work with oil traders. It is known that they are ready to further reduce pricesm and they have to report about it today. This work will continue. But it is necessary to understand that the decline in retail prices in som will not be proportional to the decline in dollars, as there is an increase in the dollar to KGS rate," Asrandiyev concluded.
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