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Interfax.com  |  Interfax news  |  Russian gasoline prices decline in latest week


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June 14, 2018 14:27

Russian gasoline prices decline in latest week

MOSCOW. June 14 (Interfax) - Retail gasoline prices in Russia declined in the latest week after rising steeply in the three preceding weeks, according to data from Central Dispatching Department of the Fuel and Energy Complex (CDU TEK).

The average price of a liter of gasoline declined at filling stations in the vast majority of regions, with the exception of Krasnodar territory (up 39-47 kopecks), in Crimea and Sevastopol (up more than 100 kopecks) and in Yakutia (up 81 kopecks).

The biggest declines were recorded in Siberia, averaging 20 kopecks per liter. Prices held steady in the North Caucasus.

The price of a liter of gasoline decreased 7-12 kopecks in Moscow, 8 kopecks in Moscow region and 19-20 kopecks in St. Petersburg. Summer diesel fuel in those regions was down 7 kopecks.

The average price for a liter of Ai-92 gasoline nationwide declined just 1 kopeck to 41.64 rubles in the seven day, for Ai-95 was down 2 kopecks to 44.43 rubles and for summer diesel fuel was down 2 kopecks to 44.34 rubles.

Over the course of the last several weeks, the government has taken measures to combat the steep increases in wholesale and retail gasoline prices recorded in April and May. It approved cuts in the excise taxes on gasoline and diesel fuel by respectively 3,000 rubles and 2,000 rubles a tonne from June 1.

In response, the oil companies pledged to hold down retail prices and to increase supplies of oil products to the domestic market. In addition, the Energy Ministry and Finance Ministry are preparing a bill that authorizes a tripling of the export duty on gasoline and diesel fuel to 90% of the current crude oil export duty should a new crisis on the domestic fuel market arise. The export duty on light oil products currently amounts to 30% of the export duty on crude.

As a result of the measures that have been taken, fuel prices on the exchange have moved lower, oil product sales on SPIMEX have increased and industry experts are forecasting a period of stability on the domestic fuel market in coming months.

Jh mz

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
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August 16, 2018
 
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