Private gas stations complained about unfair practices when trading on the stock exchange

Representatives of private gas stations wrote a letter to the leadership of the Ministry of Energy, the Federal Antimonopoly Service (FAS) and the St. Petersburg International Commodity and Raw Materials Exchange (SPIMEX), in which they reported an increase in unfair practices in exchange trading in fuel. About it “Interfax” said the head of the Russian Fuel Union (unites retail operators of the fuel market) Evgeny Arkusha.

In their appeal, representatives of private gas stations indicated that against the backdrop of high exchange demand for petroleum products, the activity of algorithmic purchasing systems has intensified, allowing orders to be calculated much faster than manually. Mr. Arkusha noted that bona fide buyers are practically deprived of the opportunity to buy petroleum products on the exchange and are forced to purchase fuel from resellers after the end of trading on St. Petersburg International Trading Exchange.

The letter also cites one of the latest cases of such unfair practices. Thus, during trading from January 12 to 24, a network of independent gas stations, which provides fuel to medical, law enforcement and other emergency services, was unable to purchase gasoline at some bases in Central Russia.

Senior Vice President of SPbIMEX Anton Karpov commented to Interfax on the complaint of private gas stations and indicated that the exchange constantly monitors the trading behavior of trading participants. “Starting from 2020, when unfair trade practices are identified, materials are submitted for consideration to the council of the Petroleum Products section and sanctions are applied, up to and including suspension of admission to trading,” Mr. Karpov emphasized.

In October 2023, the FAS sent a letter to oil companies and independent gas stations about the need to reduce fuel prices. Then the requirement was explained by the fact that the reduction in prices at gas stations should occur due to a decrease in the price of fuel on the stock exchange. Prices for wholesale quantities of gasoline at SPbMTSB have been steadily declining since mid-November. Today, January 29, during the auction the price of AI-92 gasoline grew up by 1.52%, to 49.2 thousand rubles. per ton, AI-95 gasoline – by 1.57%, to 51.8 thousand rubles. per ton.

Read more about the situation on the market in the Kommersant article “The fuel froze until spring”.