OREANDA-NEWS. December 03, 2009. The Federal Antimonopoly Service (FAS Russia) held a meeting of its Working Group on pricing for oil products, which involved representatives of "Lukoil" OJSC, "Gazprom Neft" OJSC, "ТNК-ВР-Management" OJSC, "Rosneft" Oil Company" OJSC, "Tatneft" OJSC, "Alliance" Oil Company" OJSC, "Surgutneftegaz "OJSC, "Bashneft" Shareholding Oil Company" OJSC and the Russian Fuel Union, reported the press-centre of FAS Russia.

The Working Group discussed the price formulae for oil products, proposed by FAS Russia. The participants concluded that the formulae can be used upon clarifying some parameters.

In particular, it is proposed to additionally discuss, which specific external quotations should be used in the price formulae.

The price formulae must include a parameter, according to which the time lag (the delay period for reaction of the Russian market to changes in prices on the global markets) should be the same for both growth and fall of global prices. The intention is to minimize the lag.

It is also essential select a particular basis - reference oil refinery plant to calculate the ex-works wholesale price for certain oil products (petrol, diesel fuel).

The Working group agreed upon the need to set specific differential parameters, which would account for specifics of delivery to the domestic market (the seasonal factor, etc.)

FAS Russia also informed the participants about implementing the measures for improving the pricing mechanism for aviation fuel, specified by the Government on 12th May 2009. They include the refining the limit price formulae, as well as adopting the Rules for non-discriminatory access to the airport services, including fuel and refueling facilities, approved by the Government of the Russian Federation. Along with processing antimonopoly cases, adopting those measures has enabled considerable stabilization of the market of aviation fuel.

The participants will also receive a draft decree of the Government of the Russian Federation about pricing specifics for oil products intended for agricultural producers. The draft Decree is being devised with due account of the earlier discussions with oil companies and will be forwarded to the Government of the Russian Federation for further consideration.

The next meeting of the Working Group of Pricing will take place in a week - on 7th December 2009 because the decision must be made as soon as possible.