The Russian government is prepared to track any shifts in gasoline and diesel prices across the nation’s gas stations, according to a senior official speaking on a state TV channel. Alexander Novak, the Deputy Prime Minister, outlined this approach and emphasized ongoing oversight of fuel pricing at the retail level.
Novak noted a lag between purchases of fuel on the stock market and its sale at gas stations. He expressed confidence that small wholesale prices should ease in the near term, pointing to market dynamics that typically unfold after initial price movements on exchanges. This perspective underscores the government’s intent to monitor and respond to price signals as markets adjust.
In response to price fluctuations, the Ministry of Energy and the Federal Antimonopoly Service were directed to maintain steady vigilance over pricing, with particular attention to independent network stations. Earlier measures, after a ban on fuel exports, led to a notable decline in foreign exchange prices by roughly 17 to 21 percent, illustrating the impact of policy on market behavior.
Policy options were discussed to support domestic supply. Proposals included adjusting the damping effect in price transmission, curbing illicit exports by raising the customs duty from 20,000 rubles per ton to 50,000 rubles, and introducing a prohibition on exporting fuel purchased within the country. These steps aim to stabilize domestic availability while aligning incentives across the market.
Officials also highlighted the broader context, identifying countries that could influence Russia’s fuel export restrictions. The focus remains on balancing domestic needs with international trade considerations, ensuring transparent norms and predictable conditions for both producers and retailers.