The Cabinet of Ministers announced the restoration of the fuel damper from October 1

The Russian government has approved additional measures to maintain stability in the fuel market. In particular, the fuel damper will be restored in the country from October 1. About it reports press service of the Cabinet of Ministers.

The government noted that increasing the damper coefficient from 0.5 to 1.0 “will increase the amount of compensation to oil refineries for lost income when selling motor fuel on the domestic market.” Amendments will be made to the Tax Code.

In addition, the Cabinet of Ministers increased the share of diesel sales on the stock exchange from 9.5 to 12.5%, and class 5 gasoline from 13 to 15%. They explained that this will allow independent gas stations to purchase fuel at market prices and will reduce the “risks of monopoly pricing.”

The authorities also introduced a protective duty on petroleum products in the amount of 50,000 rubles. per ton for suppliers who buy products for resale. This is done to prevent possible gray exports after the current restrictions are lifted.

Another government decision is to lift restrictions on the export of diesel delivered to seaports by pipeline. This measure applies provided that the company supplies at least 50% of the fuel produced to the domestic market.

Earlier, Vedomosti wrote that the Cabinet of Ministers intends to increase the standard for mandatory sales of fuel for refineries on the St. Petersburg International Trading Exchange commodity exchange, as well as introduce a protective export duty on petroleum products and increase damper payments. Sources familiar with the discussion noted that the draft resolution has already been prepared by the FAS and submitted to the government for approval. One of the interlocutors who saw the document said that it does not yet have an effective date. Measures need to be taken urgently, so by a special government decision it can start working not with a monthly lag, but upon publication, he explained.