Novak instructed Ministry of Energy to estimate relevance of introduction of a ban on gasoline export

Deputy Chairman of the Government, Alexander Novak instructed the Ministry of Energy to work out measures to stabilize the wholesale prices for gasoline and consider issues of appropriateness to introduce a temporary ban on gasoline exports. This is reported on the site of the Government of Russia after Novak Meeting with representatives of oil and gas companies.

Novak stated that to maintain the dynamics of retail prices for petroleum products within inflation – is still the most important task, for the execution of the legislation amended. Also, according to the proposal of companies, the damper on fuel is adjusted. So far, the conjuncture of world markets and growing oil quotes has an impact on the Russian fuel sector: “gives pressure on the domestic market. At the same time, prices for gas stations are changed within inflation, companies fulfill their obligations. At the same time, the situation is fully stabilized yet.” – he said.

At the end of the meeting, the Deputy Prime Minister instructed the Ministry of Energy to further develop measures to stabilize prices in the wholesale market and consider the expediency of a temporary ban on gasoline exports in the third quarter of 2021. And also analyze agreements with oil companies to establish the maximum permissible regional wholesale prices and work out their parameters.

In addition, the Ministry of Energy, together with the FAS, was commissioned to study an increase of one percent of the minimum standards of automotive gasoline supplied on the exchange and diesel fuels in the third quarter of 2021. And the FAS and St. Petersburg International Commodity Exchange must prepare changes to the rules of exchange trade in petroleum products, in particular, increase the interval between the placement of the offer for sale and purchase.

Earlier on June 22, Bloomberg sources stated that Russia intends to offer OPEC + to increase oil production. The decision to achieve changes in the status quo is explained by the fact that the country sees deficiency in the market in the market, which in the medium term should continue. The final position of Moscow, which they want to imagine at the meeting of the group next week is as follows ,.

/Media reports.