The Russian cabinet is preparing a package of measures to control fuel market turnover and pricing, Kommersant reported, citing minutes from meetings chaired by Deputy Prime Minister Alexander Novak. The measures under discussion include setting indicative prices and strengthening oversight of fuel costs.
The price cap system will first be tested in the republic of Tuva. The Federal Antimonopoly Service (FAS) will be required to take action against companies that overcharge, and regions will be recommended to negotiate prices directly with independent gas stations.
A source familiar with the discussions warned that if the cap becomes a hard restriction rather than a guideline, deliveries to deficit regions would become economically unviable. Independent refineries and traders would feel the pressure most acutely, the source said.
Dmitry Prokofiev, director of external communications at NEFT Research, said that if plants and wholesalers cannot sell fuel at a price covering their costs, gasoline will flow to markets where it can be sold for more.
Ministries, the FAS and oil companies are to present a new model for the domestic oil products market to the government by September 15.
Fuel shortages returned to Russian regions in August, The Moscow Times reported, citing Reuters. Restrictions have been introduced in several areas: in the Ryazan and Lipetsk regions, an odd-even license plate refueling scheme; in the Astrakhan region, a limit of 30 liters per sale. In the Krasnodar region, 120 gas stations are closed.
According to Rosstat, from August 18 to 24, gasoline price changes were recorded in 55 Russian regions, with the largest increases in Dagestan (up 7.8%) and the Ryazan region (6.2%). On average in Russia, AI-92 rose by 0.9% to 73.08 rubles per liter, and AI-95 by 0.9% to 79.32 rubles.