FAS demanded from oil companies to increase sales of gasoline on the stock exchange

The Federal Antimonopoly Service (FAS) urged oil companies to increase sales of gasoline on the stock exchange. Letters of demand were sent to nine companies, reported press service of the regulator.

According to the service, over the past five months, a decrease in sales of gasoline on the exchange by 7.9% has been recorded. “This has led to an unsatisfied demand for AI-92 and AI-95 gasolines in the domestic market. In this regard, there is a significant change in wholesale (exchange) prices for petroleum products,” the ministry said.

If the companies do not take action, the FAS will consider such behavior as a violation of the Law on Protection of Competition, the agency said. Such actions may be followed by the initiation of an antitrust case. At the same time, the FAS is working on raising the mandatory standard for sales on the stock exchange for petroleum products.

In Ingushetia, Kabardino-Balkaria, the service has already begun to apply antimonopoly response measures in relation to prices for liquefied hydrocarbon gas (LHG), and in Crimea – for gasoline. The department clarified that they are monitoring the pricing on the oil products market in retail and in other regions.

May 30, Deputy Prime Minister of Russia Alexander Novak spent meeting, including with the participation of the FAS and oil companies. Based on its results, he instructed to ensure uniform and regular sales of gasoline and diesel fuel on the stock exchange to cover the needs of the domestic market, including independent gas stations. “It is necessary to monitor prices at gas stations and in the wholesale segment, taking into account the summer growth in demand and the refinery repair season. Oil companies should continue active work with the headquarters for monitoring the production and consumption of petroleum products under the Ministry of Energy,” he stressed. It was stated at the meeting that the domestic market has been stably provided with fuel since the beginning of the year.

May 24 Energy Minister Nikolai Shulginov informedthat the ministry is ready to propose limiting the export of gasoline and diesel fuel from Russia “depending on the situation in the domestic market of the country.” He noted that the ministry cannot ban companies from exporting fuel, but it “gives recommendations to increase supply and reduce exports.”