MOSCOW, October 20 Deputy Prime Minister of the Russian Federation Alexander Novak instructed to continue working with the regions of the Russian Federation to bring small wholesale and retail prices for gasoline and diesel fuel to a level no higher inflation, the Russian government reported on its Telegram channel.
Novak held a regular meeting on the domestic petroleum products market with the management of oil companies, representatives of the Ministry of Energy, the Federal Antimonopoly Service and the Ministry of Agriculture. According to the government, there is a tendency for fuel prices to continue to decline in the regions, both in the small wholesale segment and in retail, in accordance with their dynamics at exchange trading. The cost of diesel for agricultural producers, including those sold by intermediaries, has also stabilized.
«Alexander Novak instructed the Federal Antimonopoly Service, together with the Ministry of Energy, to continue working with problem regions to bring prices for gasoline and diesel fuel in small wholesale and retail to the level not higher than inflation at the end of the year,” the Cabinet of Ministers said in a statement.
Oil companies are also recommended to increase the production of winter diesel fuel for the domestic market to indicative levels.
Exchange prices for fuel in Russia remained at record levels for several months, and the situation especially worsened in early autumn. The growth rate and retail prices significantly accelerated. The Russian government introduced a ban on the export of gasoline and diesel fuel from September 21.
Later, on October 6, the Cabinet of Ministers took a number of systemic measures to stabilize the situation on the fuel market. Among them are a return to damper payments in full from October 1, lifting the ban on the export of diesel fuel through pipelines for those who supply at least 50% to the domestic market. Also, to prevent gray exports, a protective export duty is being introduced for non-fuel producers; it will amount to 50 thousand rubles per ton. In addition, the standards for mandatory sales of AI-95 gasoline and diesel fuel on the stock exchange have been increased to 15% and 12.5%, respectively.