Deputy Prime Minister of Russia Alexander Novak said that from May 1 in Russia it is planned to change the mechanism for setting fuel prices. His words are reported by RIA Novosti.
As Novak explained, the current damping mechanism to smooth out fluctuations in fuel prices required adjustments due to macroeconomic conditions, the current exchange rate, as well as an increase in world oil prices. According to him, the Ministry of Finance is already preparing a corresponding bill.
The decision was made during a workshop on the situation on the oil product market and the operation of the fuel damper. It was attended by specialized federal bodies and representatives of oil and gas companies. It is planned that the adjusted mechanism will start working on May 1. Its goal will be to maintain marginality in retail and the stability of prices at gas stations, the Deputy Prime Minister explained.