Novak announced a decrease in fuel prices in the small wholesale market
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The sharp decline in prices for gasoline and diesel fuel has led to a reduction in their cost in the small wholesale segment, including for agricultural producers, said Deputy Prime Minister Alexander Novak, who oversees the fuel and energy complex. Footage of his communication with journalists published journalist Pavel Zarubin in his Telegram channel.
“The government has taken extraordinary measures <...> Prices on the stock exchange have fallen sharply for diesel fuel and gasoline from 16 to 20%, this, in turn, is now being translated into prices for consumers in the small wholesale segment, including producers of agricultural goods. We monitor this constantly,” he said.
Novak added that the temporary ban on fuel exports was introduced to stabilize fuel prices on the domestic market.
According to Rosstat, from the beginning of the year to August, the cost of gasoline at gas stations increased by 7.4%, diesel – by 4.7%, with inflation of 3.7%. On September 21, the government introduced a temporary ban (its duration has not been set) on the export of motor gasoline and diesel fuel. The Cabinet of Ministers expects that the ban will help “saturate” the fuel market and reduce prices. During a meeting with the government, President Vladimir Putin noted that gasoline should first go to the domestic market, and only then for export.
On September 22, prices dropped sharply by an average of 11.63%. On September 22, during trading on the St. Petersburg Exchange, the price of a ton of AI-92 decreased by 9.63%, AI-95 by 10.76%, and diesel by 14.52%. On September 27, Deputy Prime Minister Alexander Novak announced long-term measures that are planned to be taken after the ban on the export of gasoline and diesel is lifted.
September 29 FAS reported Vedomosti wrote about antimonopoly cases against companies involved in the production and sale of fuel in the southern regions of Russia. For participation in a cartel conspiracy, the FAS may fine companies up to 15% of revenue from sales of goods for the period when the violation was committed.
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