According to information provided by the president of the Association of Oil Traders of Kyrgyzstan, Kanat Eshatov, the prices for fuel and lubricants in the republic remain stable, and the reserves of petroleum products are at a sufficient level. Eshatov noted that the current international situation in the Middle East has not yet affected the prices of petroleum products in the country. However, if tensions in the region continue, this may reflect on the quotes in the future. As of today, oil companies are operating as usual.
“We are closely monitoring the situation and observing the trading on the exchanges in London and New York. Currently, the price of Brent crude oil has reached 79 dollars, but our companies have not yet signed contracts at this price. Price establishment occurs weekly or every ten days depending on agreements with oil refineries. Since supplies are being made under previously signed March contracts, we are observing price stability. Every year we sign a memorandum with the Ministry of Water Resources, Agriculture, and Processing Industry, ensuring sufficient reserves of fuel and lubricants for spring fieldwork,” he added.
