Russian authorities have approved additional measures to stabilize the domestic fuel market. This has been reported Web site Government of the Russian Federation.
In particular, the authorities decided to amend the Tax Code and reinstate the fuel tipper as of October 1.
The Council of Ministers stated that changing the damper coefficient from 0.5 to 1.0 will increase the amount of compensation to oil refineries for lost revenue when selling motor fuel in the domestic market.
The report states that this decision will provide economic incentives to saturate the domestic market with fuel and curb the increase in wholesale foreign exchange prices, which will help maintain a stable price situation in retail at a level close to inflation.
Also the government augmented Mandatory sales standards for replacement of AI-95 gasoline up to 15% (previously 13%) and diesel fuel up to 12.5% (9.5%).
Prior to this, the Federal Antimonopoly Service required oil companies and independent gas stations to reduce gasoline prices to an economically viable level. Fuel must be provided to consumers in the domestic market, including agricultural producers, FAS chairman Maxim Shaskolsky said. Russian President Vladimir Putin had previously stated that there was an increase in retail gasoline prices and called on the government to work more closely with fuel companies. Details are in the material “Newspapers.Ru”.
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Source: Gazeta
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