Russia: wanted to “freeze” prices for gasoline

The Russian authorities wanted to “freeze” the wholesale prices for gasoline, writes Kommersant. Similar measure has already been used three years ago.

According to the publication, the government instructed the Ministry of Energy to prepare a draft agreement with vertically integrated oil companies (WINK) and independent refineries (refineries). Its subject should be the price of small-winding lots of gasoline and other types of fuels trading on stock exchanges.

Analysts have already warned that in this case, oil workers and, in particular, the refinery can suffer losses. At the same time, such a policy will be on the hand of the networks of gas stations (gas stations), which will be able to increase profitability due to lower purchasing prices.

In 2018, the Government has already agreed with the refinery on the temporary fixation of small-winding prices for fuel. However, the mechanism of damping allowance for the reverse excise rate on the oil raw material was introduced, which was to simultaneously compensate for Wink and refinery loss from the tax maneuver (gradual resetting of export duties with an increase in mineral extraction tax).

The damper is an additional tax deduction in the amount of the share of the difference between NetBeck (the difference between world price, export duty and transportation costs) on fuel and a pre-defined government price.

This year, despite the action of the damper, in many regions there is a rise in gasoline prices and other fuels. So, since the beginning of the year, gasoline as a whole increased by 4.1 percent, diesel fuel – by 2.1 percent.

among other measures, which are considered by the government, restrictions on gasoline exports. In this case, the proposal in the domestic market should grow, and the prices – to decrease.

/Media reports.