the Minister did not rule out possible further increase of the rate of exchange supplies and also agreed on the need to extend this obligation to all neftepererabotchikov and not just occupying a dominant position on the market.
Also further provides for liability for failure to comply with the regularity and uniformity of sales of petroleum products on the exchange.
“these measures combined will allow you to create margin in a period of increasing demand for refined products will contribute to the discipline in the fuel market and will help to avoid excessive volatility,” said Russian energy Minister Alexander Novak.
Until April 30 of this year, the mandatory volume of supply on the stock exchange was not less than 10% for gasoline and 6% for diesel fuel. But because of the pandemic, the standards were reduced to 5% and 3% respectively.
Scheduled FAS and the Ministry of energy measures should prevent the rise in wholesale fuel prices, as occurred in late June of this year, which caused panic on the stock exchange and provoked a slight increase in retail prices at gas stations. The reason of growth of stock prices then began a rapid recovery of demand for automotive fuel after the removal of quarantine restrictions, for which no time to production.
Initiatives of the parties will be implemented in a joint order in the shortest possible time.
in addition, the report of the energy Ministry said that the Ministry has come to a common position on the possibility of lifting the ban of oil imports, but the details have not been disclosed.