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Slight growth of oil products prices in 2015 in Russia means no shortage — energy minister

January 14, 2016, 16:11 UTC+3 MOSCOW

The price at retail sites grew 4.5-5.5% for various kinds of oil products in 2015

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© Sergei Bobylev/TASS

MOSCOW, January 14. /TASS/. Oil products prices at retail sites in Russia rose 4.5-5.5% in 2015, which means absence of deficit and sufficient revenues, Russian Energy Minister Alexander Novak said on Thursday in an interview with Rossiya 24 TV Channel.

"The price at retail sites grew just 4.5-5.5% for various kinds of oil products in 2015. It means we have enough oil products on the market and marginal revenues of refineries and retail sites, even considering the current market situation, is enough to continue satisfying demands of the domestic market and lack of deficit," the minister said.

Tax maneuver [change in oil export duty and mineral extraction tax rates — TASS] should continue and the decision made to keep export duties at 2015 year level in 2016 should be one-time, Novak added.

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