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Novak says new policies on fuel market to facilitate market stability

"Changing the damper coefficient to 1 will allow for increasing the amount of compensation in sales of motor fuel in the domestic market to refineries," Alexander Novak noted

MOSCOW, October 9. /TASS/. New measures on the fuel market assumed by the Russian government, including that adjusting fuel damper mechanism, will lead to saturation of the market and will facilitate the market stability, Deputy Prime Minister Alexander Novak said.

"Short-term measures have worked, though some additional systemic measures developed together with the sector and experts were adopted last week, on Friday, by the government for stable functioning of the domestic market," he said at a government meeting.

"It was decided to amend the Tax Code and resume, effective October 1, the fuel damper mechanism. Changing the damper coefficient to 1 will allow for increasing the amount of compensation in sales of motor fuel in the domestic market to refineries. This will allow for ensuring economic incentives for saturation of the domestic market with fuel, and as a result, foster support for a stable price situation on the exchange and in the retail market," Novak added.

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Alexander Novak

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