the Collapse of world oil prices will not please the Russian motorists: gasoline in Russia will not be cheaper. It is caused by the peculiarities of the regulation of the industry.
for the Whole night of March 9, price quotes for Brent oil fell by 30% to $31 per barrel. And, according to analysts, this is not the limit, and then the price could fall to $20 per barrel, reports RBC.
the Collapse of world oil prices was not only because of the coronavirus, but also because of the failure of the transaction OPEC to cut production. The situation was compounded by the fact that Saudi Arabia, one of the world’s largest oil suppliers with low cost, start a price war with competitors.
Europeans, where gasoline price is tied to the cost of oil is just at hand – the price of fuel there has already fallen. So, on the wholesale market on 6 March, the same ton of AI-95 gasoline cost nearly $468, and on the 9th of March, it fell to almost $355.
Wholesale prices in Russia fell by much less – approximately 4.4 to 4.9%. A ton of gasoline AI-92 at the St. Petersburg international commodity exchange on March 10, fell to 44.2 thousand rubles, AI-95 – to 45.7 thousand rubles. Where such a bias “we” and “they”?
In 2018, the Russian government launched a so-called damper – the amount of 65-68% of the estimated premium that oil companies receive when selling fuel on the domestic or export market. Earning on the domestic market than abroad, oil companies transfer part of this award (damper) in the budget. If abroad more expensive gasoline, the state, on the contrary, companies pay part of the compensation for the fact that they keep prices on the domestic market and receive less revenue.
Now due to the collapse in oil prices the earnings of oil companies in Russia will grow, but lower prices they can not, as the income will have to share with the government. Because of the characteristics of the damper retail prices for gasoline and diesel fuel can only grow, regardless of world prices for oil and oil products, consider the sources.
However, analysts converge in msuch that the government will keep the price of gasoline. On stable prices at the level of inflation and said the Minister of energy Alexander Novak.
“the Government established a very effective tool in mid-2018, which work efficiently and a half years. It helps to smooth those fluctuations that occur in world markets, and to offset price changes in world markets as upwards and downwards”, – he told on air of TV channel “Russia 24”.