The government wants to increase the standards for exchange sales of gasoline and diesel

The Russian government intends to increase the sales standards for gasoline for refineries on the St. Petersburg International Trading Exchange commodity exchange by 2 percentage points, to 15% of total production, and for diesel – by 3 percentage points, to 12.5%, Kommersant has learned.

Increasing the standards for exchange fuel sales will be one of the measures to stabilize prices for gasoline and diesel fuel in the domestic market. The topic was discussed at a meeting with Deputy Prime Minister Alexander Novak, and he supported it, and the Federal Antimonopoly Service has already prepared a draft corresponding government resolution.

Source “Vedomosti”, who has seen the draft resolution, stated that the document does not yet have an effective date. According to him, this may mean that the initiative will take effect from the date of publication, because measures need to be taken urgently.

The last time sales standards at St. Petersburg International Exchange were increased on September 1. For gasoline, the standard increased from 12% to 13% of total production, for diesel fuel – from 8.5% to 9.5%.

To stabilize the domestic fuel market on September 21 in the Russian Federation was introduced temporary ban on the export of motor gasoline and diesel fuel. The Ministry of Energy said that the export ban introduced indefinitely. Deputy Prime Minister Alexander Novak focused on the fact that the embargo made it possible to reduce wholesale fuel prices. However, at the meeting the day before, October 4, no decision was made to ease the ban.

Read more in the Kommersant article. “Fuel is being pulled to the exchange again”.

Erdni Kagaltynov