Russian authorities will consider the introduction of a ban on the export of petroleum products only if the situation in the domestic fuel market will be critical. This was announced on the air “Russia-24” Vice Prime Minister Alexander Novak.
He noted that while the level of reserves is sufficient to satisfy demand. The ban on the removal of gasoline from the country Novak called the extreme measure. The Deputy Prime Minister added that the damped mechanism adjusted from May 1 made it possible to stabilize the situation.
Assessing the situation in the fuel market, Novak stated that prices for petroleum products grow at the inflation level. The cost of gasoline in the country increased from the beginning of the year by 2.9 percent. At the end of April, the Ministry of Energy expressed the idea of banning gasoline exports for three months.
In early May, the Russian government adopted additional measures to stabilize fuel prices. So, oilmen obliged to sell gasoline to an independent gas station on the stock exchange at market prices. Also, the Cabinet also expanded fuel supplies from stock trading, including the refinery themselves with the export of gasoline vehicles.