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Russian energy minister anticipates stable fuel prices in long-term perspective

According to the minister, the country’s oil sector has reserves of two million tons of gasoline and 3.5 million tons of diesel fuel and manages to offer high supply on the market

VLADIVOSTOK, September 8. /TASS/. Gasoline and diesel fuel prices in Russia will remain stable in the long-term perspective thanks to the measures that have already been taken, Russian Energy Minister Sergey Tsivilev told TASS.

According to the minister, the country’s oil sector has reserves of two million tons of gasoline and 3.5 million tons of diesel fuel and manages to offer high supply on the market.

"As for the current situation, we have managed to saturate the market and accumulate sufficient resources: around two million tons of gasoline and some 3.5 million tons of diesel fuel. Apart from that, oil companies are maintaining a high level of supply of fuel on the stock exchange, which lays a long-term basis for price stabilization," he said on the sidelines of the Eastern Economic Forum.

About the forum

The Eastern Economic Forum (EEF) was held on the campus of the Far Eastern Federal University in Vladivostok on September 3-6, 2024. The main theme of the EEF in 2024 is "Far East 2030. Combining strengths to create new potential."

The EEF is one of the largest international conferences in Russia. It has been held in the Primorsky Region’s Russky Island in Vladivostok since 2015. The Forum is the initiative of Russian President Vladimir Putin, who decreed that the event be held annually.

The forum's objectives and goals include promoting the accelerated growth of Russia’s Far East region; assessing its potential for exports; expanding international cooperation in the Asia-Pacific Region; showcasing the investment appeal of the region, its steadily progressing territories, and the Vladivostok free port.

The Roscongress Foundation has served as the Forum’s organizer since 2016.

TASS is the general information partner of the EEF.

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