Putin notes importance of ensuring price stability for electricity and fuel

Business & Economy October 11, 2023, 21:32

The President stressed that delivering fuel to local consumers should be a top priority for Russian energy companies

MOSCOW, October 11. /TASS/. Stability and affordability of prices for electricity, raw materials, and fuel must be ensured in Russia, Russian President Vladimir Putin said at the Russian Energy Week.

He stated that "the stability and affordability of prices for electricity, raw materials, and fuel are another key condition for the confident long-term development of the energy market."

Putin mentioned that the price of gasoline and diesel fuel has increased in Russia during the past few months. To normalize the situation, the government made a number of decisions in this regard. But in the event of a fuel shortage, the president instructed to government to move quickly and take precautions.

He also added that delivering fuel to local consumers should be a top priority for Russian energy companies. "I would like to once more draw the attention of our top energy companies to the fact that fuel supplies to domestic consumers should be a priority," he said.

Russian presidential spokesman Dmitry Peskov said earlier that exports of diesel and gasoline from Russia will be banned as long as it is necessary. "The government has repeatedly noted that there is no deadline here. The ban will persist as long as it is necessary. As soon as this necessity disappears other measures will be considered," he said.

The Russian cabinet introduced the temporary limitation of gasoline and diesel fuel exports on September 21 to stabilize the domestic market. The ban is indefinite and its term will depend on market saturation and the results of this measure, First Deputy Energy Minister Pavel Sorokin said earlier.

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