ST. PETERSBURG, July 1. /TASS/. Russia's domestic market is fully supplied with gasoline and diesel fuel, Russian Deputy Prime Minister Alexander Novak said at the Financial Congress.
Russian vertically integrated oil companies are keeping fuel prices at gas stations within inflation limits. While there is a certain price gap at independent stations, this situation should stabilize.
TASS has compiled the Deputy Prime Minister's key statements.
Domestic fuel supply
The Russian domestic market is "supplied with both gasoline and diesel fuel," "despite the fact that a number of our plants are undergoing repairs."
The Russian fuel market experiences shortages at individual gas stations due to logistical difficulties, but these are quickly resolved: "Currently, we are seeing shortages and disruptions at individual gas stations on the domestic market, primarily due to logistical adjustments in deliveries from refineries to specific oil depots and service stations. These are quickly resolved."
The fuel situation is monitored and adjusted on a daily basis: "We are working on a daily basis with our oil companies to address any issues that occasionally arise."
The country has deliberately accumulated fuel reserves so that they can be used to stabilize the market during periods of localized disruptions.
Fuel prices at gas stations
Russian vertically integrated oil companies are keeping fuel prices at gas stations within inflation limits: "As for the impact on prices resulting from these disruptions, we see that our vertically integrated companies are keeping prices within those levels as socially responsible companies and, as bankers like to say, are targeting their prices at the inflation rate."
There is a certain price gap at independent stations, but this situation should stabilize: "Given the disruptions, there is currently a certain gap at gas stations owned by independent companies. This is a normal market situation that should even out as the market is replenished and the overall situation becomes fully balanced."
Impact of gasoline situation on inflation
The impact of the gasoline situation on inflation will be minimal and will be factored into the Ministry of Economic Development's forecast indicators.
Adaptation of Russian economy to challenges
The Russian economy has adapted to external challenges by 80%: "If we are talking about adaptation, let's say by 80% to external challenges. If we are talking about the path we are taking today in terms of technological sovereignty and technological leadership, I think we are in the first half."
The share of the fuel and energy sector in Russia's GDP has fallen to 13% from the previous 18-20%, while the share of exports in the structure of GDP has shrunk nearly threefold: "I would probably note key changes in the structure of our economy, such as the decline in the share of the fuel and energy complex, which previously accounted for approximately 18-20% of GDP. Now its share has fallen to 13% of GDP, and its share in the revenue structure has dropped from 42% to 22%.".