Novak announces new measures to stabilize fuel prices

The government is working on new measures that will help stabilize the situation on the Russian fuel market, writes TASS with reference to Deputy Prime Minister Alexander Novak.

According to him, there is no shortage of supply in the fuel market as a whole, there is a balance on the stock exchange. At the same time, the authorities intend to prevent significant fluctuations in fuel prices in the domestic market.

Novak said that a list of companies that could export fuel could be drawn up in the near future. The Cabinet of Ministers also plans to increase the standards for the minimum supply of fuel to the exchange and optimize the schedule of repair work at oil refineries in order to provide the market with supply.

“As for pricing, we are working with companies to provide the exchange with the necessary volumes so that there is no shortage on the exchange, and there is a balance of supply and demand. A list of special exporters will be adopted to limit gray exports. Literally soon,” he said.

Earlier on August 24, the Ministry of Energy did not support the idea of ​​state regulation of prices for diesel fuel. The Association of Freight Road Transport “Gruzavtotrans” addressed Prime Minister Mikhail Mishustin with such a request. The Ministry of Energy considered that such a measure would lead to a shortage of products. They explained the “volatility on the stock exchange” by the restoration of prices for Russian oil products on the world market and the change in the ruble exchange rate. In addition, the ministry noted, in the summer, fuel prices “grow traditionally.” The Ministry of Energy clarified that meetings with market participants are held regularly to stabilize prices.

August 23 Ministry of Energy recommended oil companies to keep the price of diesel fuel in small wholesale in the agricultural regions of Russia. This was reported to Vedomosti by a representative of the press service of the ministry. He noted that the Ministry of Energy, together with the Ministry of Agriculture, discussed problems with providing farmers with diesel fuel at regional oil depots. Against the backdrop of a high load on railway lines in the south of the country during the tourist season, difficulties arose with the rhythm of fuel supplies, according to the comments of the Ministry of Energy.