The government did not support the bill to regulate fuel prices

The government refused to support the initiative to establish maximum permissible retail prices for gasoline and diesel. This was reported “News” with reference to the government’s recall draft. The bill was submitted to the State Duma in the fall by a group of deputies from the Liberal Democratic Party.

The draft review states that state regulation of fuel prices will lead to a distortion of free market pricing and will negatively affect investment in refineries. Reducing the incentive to supply fuel to the domestic market threatens shortages and uncontrolled price increases, the government noted. The government staff told Izvestia that the draft recall is still being prepared. Once completed, it will be sent to the State Duma.

LDPR deputies proposed to consider maximum permissible retail prices, above which fuel cannot be sold to consumers. Changes were proposed to be made to the law on the fundamentals of state regulation of trade activities.

On September 21, the Russian government introduced a ban on the export of gasoline and diesel fuel. The purpose of the embargo was to saturate the domestic market with fuel and reduce prices. October 6 government weakened embargo, allowing pipeline exports of diesel fuel. November 17 the government lifted the ban on gasoline exports, November 22 — for the export of summer diesel fuel.

For more details, see the Kommersant publication “Gasoline has adjusted quotes for export.”

Lusine Balasyan