Russia: agreed to hold prices for gasoline from May 1

The Russian government agrees to adjustments in the formula of the damper mechanism from May 1, which will help to restrain the rise in gasoline prices within inflation. About the parameters and timing at a meeting at the Deputy Prime Minister Alexandra Novak agreed to agree on the specialized departments and top managers of the largest oil companies, RBC reports.

The current format of the damper mechanism led to the fact that since the beginning of the year, the indicative price for gasoline and diesel fuel (the wholesale price established by the government increased more than prices for gas stations. Such a circumstance contributed to a decrease in the profitability of refueling.

The damper works in such a way that at low prices, oil workers sell fuel inside the country at high (relatively world) prices, and the difference is paid to the budget. In the opposite case, the government compensates for them lost profits.

According to Novak, the current rise in energy prices does not allow simultaneously to preserve the profitability of gas stations and keep prices within inflation. In February, the Ministry of Finance has already recognized the need for adjustment, but indicated that it would be required not earlier than 2024. However, in March, the government admitted that it is necessary to act much faster.

The source of publication, familiar with the details of the discussion, said that the indicative price was offered to reduce five percent, to 53.6 thousand rubles per ton. In turn, the oilmen have pledged to increase sales on the stock exchange to lead wholesale prices from the maxima. According to the assessment of the main economist Vygon Consulting Sergey Ezhov, such a maneuver will lead to additional payments to oil companies in the amount of 42 billion rubles.

President of the Russian Fuel Union Evgeny Arkusha positively appreciated the measures taken, but noted that it was necessary to increase sales on the stock exchange in the coming days, without waiting for May 1. According to him, when purchasing at current prices, some gas stations are already selling gasoline and diesel fuel at a loss.

/Media reports.