Kyrgyzstan Faces Fuel Price Surge Amid Russian Refinery Shortfalls

Kyrgyzstan is expected to see a 15% rise in fuel prices due to reduced supplies from Russia, impacted by Ukrainian drone attacks on Russian refineries. The Kyrgyz government is working to stabilize prices through temporary tax relief and loans, as the situation impacts the upcoming parliamentary election.

Kyrgyzstan is bracing for a significant jump in fuel prices, potentially up to 15%, as a consequence of reduced supplies from Russia. This supply shortfall is largely attributed to Ukrainian drone strikes on Russian oil refineries, impacting up to a fifth of Russia's refining capacity in recent weeks.

In response, Russia has extended export restrictions until the end of 2025 due to its domestic shortages. Kyrgyzstan's current fuel reserves are estimated to last about a month, with officials optimistic about improvements post the autumn agricultural demands in Russia.

The fuel shortage has led to several gas stations in Bishkek, the capital, running dry. This creates a challenging scenario for the Kyrgyz government ahead of the snap parliamentary elections, where cost-of-living concerns are a top priority for voters. Measures such as temporary tax relief and soft loans have been proposed to mitigate price hikes.

(With inputs from agencies.)