In the Ministry of Energy predicted the rise in gasoline prices during the summer. It is reported by RIA Novosti.
According to the statement of the department, an increase in world oil prices and summer demand influence the domestic fuel market in Russia, however, the current increase in wholesale prices is not critical and can be restrained by a donoyaging of the damping mechanism. Due to this, it will be possible to avoid the deficit of gasoline and its rise in price higher than the dynamics of inflation in the coming months, explained in the ministry. The restrained growth of wholesale prices allowed to maintain the profitability of fuel supplies to the domestic market for oil companies, summarized in the Ministry of Energy.
It is noted in April 2021, the wholesale prices for gasoline were reduced by 0.2 percent, and the dynamics of average consumer fuel prices did not exceed 0.5 percent, which was within the inflation framework.
Previously, the deputy head of the Ministry of Energy Pavel Sorokin reassured Russians about the possible deficiency of gasoline in the summer, which was warned by the Russian Fuel Union (RTS). According to the deputy minister, the current level of fuel production will allow to satisfy domestic demand in the market. Sorokin explained that the government made all the necessary measures for this and recommended the oil workers to accumulate reserves and increase processing volumes.
Before that, the Russian Fuel Union warned Russians about the risk of gasoline deficit this summer. In a letter directed by the Deputy Prime Minister Alexander Novaku, it was said that the measures taken by the Government to stabilize the gasoline market is not enough, and it is necessary to “urgently take measures to saturate the Russian market fuel.” RTS proposed to increase the total fuel production in Russia and introduce a temporary limitation of gasoline exports until October 1, as well as increase the standard of minimum fuel sales on the stock exchange to 15 percent.