Deputy Prime Minister Alexander Novak led a recent session focused on the domestic market for petroleum products. Participants observed a steadiness in prices across the retail sector, along with a stable outlook for related small wholesale supplies to farmers. The meeting underscored that the price environment for petroleum products remained calm in both retail channels and small-scale wholesale operations serving agricultural producers. Following the discussions, oil companies were directed to ramp up winter diesel production to meet anticipated demand.
The government later clarified that the phrase about price stability pertained to the entire spectrum of petroleum products, including those sold at retail and those distributed through smaller wholesale chains to agricultural customers. This clarification aimed to ensure a clear understanding of the current market balance and to reinforce the policy stance announced at the meeting.
Reports from the ministry emphasized that market actions would address pricing dynamics across the sector. The authorities signaled that adjustments in wholesale volumes and incentives for production could influence price trajectories in the coming weeks as winter fuel needs grow. The directive to boost winter diesel output was part of a broader effort to maintain supply reliability and price stability for end users, including agricultural producers who depend on timely access to fuel.
On October 16, the Ministry of Finance indicated forthcoming increases in fuel prices tied to the effects of gray exports. Deputy Finance Minister Alexei Sazanov noted that the shock absorber had been removed at the start of September, and price rises began in the summer months. He warned that without measures to curb fuel exports, the price situation would not stabilize, signaling a policy path aimed at dampening speculative export activity and protecting domestic market stability.
In mid-October, Russia saw an uptick in the minimum sale price for gasoline and diesel on the stock exchange, a move that reflected shifting market dynamics and regulatory responses aimed at ensuring orderly trading and price signals for participants in the petroleum sector.
Earlier, Novak had expressed openness to an early consideration of removing the price ceiling on Russian oil, indicating a potential shift in price governance policies depending on market conditions and fiscal considerations. The discussion underscored the government’s active involvement in aligning policy tools with market developments to safeguard energy security and price predictability.