A group of State Duma deputies from the LDPR party, led by Leonid Slutsky, has submitted a draft bill for consideration. The measure proposes that the government set maximum permissible retail prices for motor gasoline and diesel fuel and outlines the process for establishing these limits, according to DEA News.
The proposed amendment targets the law known as the Foundations of State Regulation of Business Activity in the Russian Federation. If the bill passes, it is expected to take effect on January 1, 2024.
The explanatory note accompanying the document argues that such controls would help stabilize retail fuel prices and reduce volatility in the market.
Earlier, Deputy Prime Minister Alexander Novak held a meeting with representatives of oil companies to discuss fuel supply to agricultural producers, highlighting the ongoing coordination between government bodies and industry players on this issue.
According to socialbites.ca, the Russian Ministry of Energy is examining options to limit fuel exports from Russia. The discussions cover both legal exports and the leakage of what is described as grey fuel. Without intervention, the situation could become unmanageable as retail and wholesale prices for gasoline and diesel climb to record highs.
There is also a note that when oil prices previously dipped to around $50 per barrel, market pressures intensified, underscoring the sensitivity of fuel pricing to global trends and domestic policy actions.