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Ministers' Cabinet to up minimum threshold for fuel sales on the exchange by 1pp

This applies only to motor gasoline

ST.PETERSBURG, June 16. / TASS /. The Russian government decided to raise the minimum threshold for selling fuel to the exchange even higher - by 1 pp for gasoline and diesel fuel, Russian Deputy Minister Alexander Novak told reporters on Wednesday.

The measure is aimed at stabilizing the fuel market in Russia. "Just last week we had a meeting on the situation in the wholesale market. Additional decisions were made to increase the volume of sales on the exchange to provide additional resources. Last time we decided to increase the volume of sales on the exchange for gasoline and diesel fuel by 1%. Now we have decided to also increase by 1% for each type of fuel," he said.

According to him, the Cabinet of Ministers is not considering the possibility of imposing restrictions on the export of diesel fuel from Russia to stabilize prices, this decision remains relevant only for gasoline, but even then as a last resort. "So far, such a decision should be made only if it is necessary. This applies only to motor gasoline, because diesel fuel is produced in our country twice as much as domestic consumption and there is definitely no shortage here," Novak stressed. Now the standard for the minimum volume of gasoline sales on the stock exchange is 11%, for diesel it is 7.5%. So, it will grow to 12% for gasoline and 8.5% for diesel.

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