BANGKOK, May 21. /TASS/. Asia would eventually benefit from the growth in fuel prices, due to increasing competitiveness at local markets, Russian Economic Development Minister Maxim Reshetnikov has told reporters.
"We assume that Russia is a major fuel supplier, and can’t be replaced effortlessly," he said. "What is more, resources will be re-oriented, <…> with Europe supplying oil products from the American continent and Asia, and Russia promoting its oil on the Asian market. However, this will require a substantial change in logistics."
"Regretfully, this will entail <…> oil price growth for consumers. European consumers will be the first to pay for that, because fuel prices will grow. In contrast, Asian [consumers] will benefit from the situation, because, as a result, competitiveness at will grow at Asian markets," Reshetnikov said.