A bill introducing maximum prices for gasoline in Russia was introduced to the State Duma

Deputies of the LDPR faction led by Leonid Slutsky contributed a bill on introducing maximum retail prices for gasoline and diesel fuel in Russia has been submitted to the State Duma. The document, published in the database of the lower house of parliament, also spelled out the rules for calculating the cost of fuel.

“When traveling around the country, people often paid attention to the high cost of gasoline, which affects the rise in prices for products and services. Fuel is necessary for all sectors of the economy and remains the foundation for the development of the country. The government has been taking measures all year to keep prices below the inflation threshold, but now it is clear that the threshold has already been significantly exceeded. Since the beginning of the year, the cost of fuel has risen by almost 8%,” noted Slutsky in his Telegram channel.

The explanatory note to the bill states that the maximum permissible retail prices are those that cannot be exceeded when selling gasoline and diesel fuel to consumers. The maximum cost, in agreement with the government, can be introduced for a period of three to five years.

According to the project, changes should be made to the law “On the Fundamentals of State Regulation of Trade Activities.” If the initiative is approved, the amendments should come into force on January 1, 2024.

Gasoline prices in Russia have been rising all year. The cost of diesel fuel remained stable for a long time, but at the end of July – beginning of August it also began to increase. To resolve the situation, on August 2, Prime Minister Mikhail Mishustin signed a decree to increase the exchange standard from September 1 by 1 percentage point to 9.5% of total production for diesel and up to 13% for gasoline. The government is also discussing the possibility of quotas for the export of petroleum products and options for combating “gray” exports.