The Russian Government has Taken New Measures to Stabilize Gasoline Prices
OREANDA-NEWS. Russian Prime Minister Mikhail Mishustin signed a decree changing the order of exchange trading in fuel. This was done to stabilize prices for gasoline and motor fuel, the press service of the Cabinet of Ministers said.
Until now, large oil companies were obliged to send part of the fuel to the exchange, where independent filling stations can buy it at market prices. This makes it possible to reduce the risks of monopoly pricing, since many dominant players in the fuel market have their own network of filling stations.
The press service should note that the new resolution introduces the concept of regularity and uniformity of exchange trading.
"This is done so that companies sending fuel to the exchange plan the volume of fuel sales at each point of delivery for a month in advance. Such a decision is expected to help avoid additional pressure on prices from independent gas station networks," the message explains.
It is now possible to trade on the exchange directly from the factory, so that some companies will be able to ship even more petroleum products. In addition, the decree guarantees that the goods sold on the exchange will reach the points where they are picked up by buyers.
According to the press service of the government, these measures will help stabilize the situation in the fuel market and will have a restraining effect on the overall inflationary dynamics.