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MIL OSI Translation. Region: Russian Federation –

During the meeting, the current situation on the domestic market of petroleum products was considered.

Deputy Prime Minister Alexander Novak held a meeting with representatives of oil and gas companies on prices for oil products.

During the meeting, the current situation on the domestic market of petroleum products was considered.

As Alexander Novak noted, the most important goal remains to maintain the dynamics of retail prices for petroleum products within the framework of general inflation. “For this, a number of amendments have been made to the legislation, a damper for fuel has been adjusted in accordance with the proposals of the companies,” the Deputy Prime Minister said.

According to him, the current situation is influenced by the conjuncture of world markets, in particular, growing oil prices. “This puts pressure on the domestic market. At the same time, the prices for gas stations change within the framework of inflation, companies fulfill their obligations. At the same time, the situation is not fully stabilized yet ”.

Following the discussion with the meeting participants, Alexander Novak, the following instructions were given:

– The Ministry of Energy of Russia, together with the FAS Russia, to work out an increase by 1% in the minimum standards for motor gasoline and diesel fuel supplied to the exchange in the 3rd quarter of 2021. In addition, the FAS was instructed to develop an appropriate tool for monitoring the execution of the order by the participants of the fuel market. Changes to the joint order of the departments “On approval of the minimum amount of oil products sold on the exchange” should be made to the Government by July 15, 2021.

– FAS Russia, together with JSC St. Petersburg International Commodity and Raw Materials Exchange (SPIMEX), prepare amendments to the rules for exchange trading in oil products, proposals to increase the interval between placing an offer to sell on the exchange and the purchase itself.

– It is necessary to further elaborate measures to stabilize prices on the wholesale market. The Ministry of Energy of the Russian Federation, taking into account the situation on the oil products market in the third quarter of 2021, to consider the feasibility of introducing a temporary ban on the export of gasoline, as well as to study the need to conclude agreements with oil companies to establish maximum permissible indicative values ​​of regional wholesale prices, which ensure the necessary marginality of the retail market, as well as work out their parameters.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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