Head of the FAS: it is important not to “overdo it” with regulating the fuel market
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It is important not to overdo it with price regulation in the fuel market. This was stated by the head of the Federal Antimonopoly Service of Russia Maxim Shaskolsky.
“Here we need to not go overboard with regulatory measures. Companies are not in an easy position; they need to take into account the situation and the need for investment, development, maintaining production, keeping factories operating at full capacity. We must not allow any measures to cause a decrease in oil refining volumes. Therefore, all measures must be verified,” he said (quote via Interfax).
Shaskolsky noted that measures for the fuel market are also being studied, similar to the fertilizer market, as Russian President Vladimir Putin proposed on September 27. “We supplied the required volume to the domestic market, and then make money on the external market. Well, yes, it works,” the head of state said then.
Previously October 5 FAS sent letter to vertically integrated and independent gas stations calling for lower fuel prices. The agency warned that if the requirement is ignored, it will consider this as “signs of a violation of antimonopoly legislation.” Shaskolsky explained that the price level should be “economically justified.”
September 21 government introduced a temporary ban on the export of gasoline and diesel to combat gray fuel exports and to provide petroleum products to the domestic market. This led to an increase in reserves by 430,000 tons, as well as to the stabilization of exchange prices for fuel, which was also transmitted to the small wholesale segment, said Deputy Prime Minister Alexander Novak.
The cost of gasoline and diesel fuel at Russian gas stations for the week from September 25 to October 1 decreased for the first time since the spring of this year, wrote formerly Vedomosti. According to Rosstat, a liter of AI-92 gasoline fell in price in the country over the week by 0.4% to 51.41 rubles, AI-95 – by 0.5% to 56.16 rubles. The price of diesel fuel decreased by only 0.1% to 64.9 rubles/liter.
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