The Russian government has raised the standards for fuel sales on the stock exchange
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Russian Prime Minister Mikhail Mishustin signed a decree on increasing the standards for fuel sales on the stock exchange. About it informed to the government press office.
It is specified that the minimum share of gasoline sales on the stock exchange has been increased from 12% to 13%. A similar measure was taken with regard to diesel – the share was increased from 8.5% to 9.5%. The document has not yet been published.
“The approved changes will increase the guaranteed volume of demanded fuel supply at exchange auctions and increase the share of transactions that are concluded on competitive terms,” the government said. They noted that the sale of part of the fuel on the stock exchange reduces the risks of monopoly pricing, since large market participants have their own networks of filling stations.
The Ministry of Energy and the Federal Antimonopoly Service (FAS) reported on the preparation of the resolution, which back in June called on oil companies to increase sales on the stock exchange. The increase in standards was supported by Deputy Prime Minister Alexander Novak. He also instructed to work out quotas for fuel exports. In addition, the government is discussing limiting the number of gasoline exporters.
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