Russian government to take new measures to stabilize fuel prices — Deputy PM

Business & Economy August 30, 2023, 20:24

It is noted that there is no shortage of supply on the fuel market of the country now and there is a balance on the stock exchange

MOSCOW, August 30. /TASS/. The government is currently working on a number of measures that will help stabilize the situation on the Russian fuel market, Deputy Prime Minister Alexander Novak told reporters.

In the near future, a list of companies that will be allowed to export fuel may be drawn up, he added. The government also intends to increase the standards for the minimum level of fuel supplies to the exchange and optimize the schedule for repair work at oil refineries to provide the market with supply, he said.

"As for pricing, we are working with companies to provide the exchange with the necessary volumes so that there is no shortage on the exchange, and there is a balance of supply and demand. A list of special exporters will be adopted to limit gray exports already in the near future," he said.

"We will increase the standards for deliveries to the stock exchange. In particular, the formation, adjustment, and optimization of the schedule for repair work at oil refineries is underway," Novak added.

According to the Deputy Prime Minister, there is no shortage of supply on the fuel market of the country now and there is a balance on the stock exchange. However, the authorities intend to prevent significant fluctuations in fuel prices in Russia, he added.

"In general, we don’t have a shortage of supply on the domestic market today, there is a balance on the stock exchange. But in order to complete the sowing season by the end of the year, we are now working with consumers from the [industry] of agriculture to ensure the necessary volumes to ensure constancy so that there are no fluctuations in the market," he said

According to the results of today's trading, the exchange price of Premium-95 gasoline in the European part of Russia increased by 0.47% and amounted to 73,697 rubles per ton, once again updating the all-time high. The price of diesel fuel is also growing, approaching a record high. The cost of gasoline AI-95 has updated its all-time high for the sixth trading day in a row.

Earlier, the Izvestia newspaper wrote that Russian regions began to report a shortage of fuel at gas stations. In particular, this is happening in the Astrakhan, Volgograd, Saratov, Ryazan and Novosibirsk regions, as well as in the republic of Kalmykia and the Khabarovsk region.

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