The Ministry of Mineral Resources and Energy is planning to start a MNT 28 billion petroleum reserve in 2012. The move comes as petroleum importers and economists are warning of another financial crisis early next year.

It’s also hoped the move will help fight inflation, since the prices of 215 consumer goods surveyed (out of 287) have increased over the past year.

The ministry plans to use MNT 5 billion from the 2011 Risks Fund to buy petroleum.