Will fuel prices follow dollar?

The last increase of fuel prices was on November 1. It was the last step on the way to linking the price to the dollar exchange arte in Belarus. Ai-92 was the indicator – its price reached 1 dollar or Br10600 at that time.

The 30% foreign currency purchase fee was introduced at the end of December 2014. It will not affect the fuel and oil prices, head of Belneftekhim Ihar Lyashenka claimed. The oil prices have not changed since then. However, the dollar exchange rate has already reached Br12740. It means that it has increased by more than 20% since November 1. Belneftekhim does not know whether the fuel prices will go up and when.

“As soon as the information appears, it will be published on our website,” Belneftekhim press secretary Maryna Kastsyuchenka said.  “I usually get to know about it right when the prices are about to go up but I have no information at the moment.”

Maryna Adamauna could not answer whether the increase was being discussed or analyzed: “I have told you all that I could!”

The fuel prices rapidly increased in Belarus after the devaluation in 2011. They went up by 30% and it caused a wave of protests. Mass actions ‘Stop Fuel’ were organized all over the country and it made Belneftekhim lower the prices and gradually increase them later.

The oil prices are unlikely to go up before January 15. The moratorium imposed on the price increase by the Belarusian Ministry of Trade will be over on this day. It is difficult to predict what will happen to the fuel prices because the dollar exchange rate may change many times by then.

Photo: ru.tsn.ua