Novak threatened businesses with tough measures if fuel prices rise – Kommersant

Russian Deputy Prime Minister Alexander Novak held an extraordinary meeting with representatives of oil companies on the domestic petroleum products market. It was attended by top managers of oil companies and government officials. At the meeting, Mr. Novak said that if retail prices do not decrease, the government will introduce regulatory measures similar to those in force on the fertilizer market.

“As a result of the ban on the export of gasoline and diesel fuel, we saw a decrease in prices on the stock exchange. We expect a reduction in these prices to be transmitted to the small wholesale and retail segments, as well as to agricultural producers. Price increases are unacceptable. If the situation does not change, strict regulatory measures will be taken, comparable to those in force on the fertilizer market,” said Mr. Novak (quoted by website government).

At the meeting, the Deputy Prime Minister instructed to urgently take measures to reduce fuel prices at gas stations and bring prices in small wholesale to the level of large wholesale prices, taking into account transportation costs. At the same time, Mr. Novak noted, the volume of fuel trading on the exchange should not decrease until a balance of supply and demand is achieved in the domestic market.

Mr. Novak instructed the Federal Customs Service and the Federal Tax Service to monitor the implementation of the ban on the export of gasoline and diesel fuel. According to him, border port bases will be closed for the export of fuel, and the fuel stored in tanks will be sent to the domestic market.

To combat gray exports, administrative and economic measures will be introduced. The Deputy Prime Minister instructed to ensure a balance of supply and demand in the southern regions of the country. Until the situation on the domestic fuel market stabilizes, as well as until prices decrease, meetings will be held at least twice a week.