Russia’s Federal Antimonopoly Service (FAS) is awaiting justification for the increase in the wholesale cost of AI-95 gasoline from oil companies until the end of the month, the FAS told reporters on July 26.
The agency has sent a request to provide information on the economic justification for the increase in the wholesale price of AI-95 gasoline to vertically integrated companies. They will have to do so by July 31.
The service and its regional bodies continue to monitor the situation on the petroleum products market.
The price of AI-95 gasoline on the St. Petersburg International Commodity and Raw Materials Exchange (SPbMTSE) has been rapidly increasing this summer. It approached the all-time high of 76,876 rubles per tonne. The price reached this level on September 7, 2023. In recent days, it has begun to decline.
Earlier, Russian Deputy Prime Minister Alexander Novak told reporters that the measures being taken in Russia to stabilize wholesale prices for AI-95 gasoline are sufficient. On August 1, the government renewed the ban on gasoline exports from Russia, which will last until September 1; it can then be extended until September-October.
The Ministry of Energy of the Russian Federation is working with companies to increase fuel production volumes, utilization of oil refineries and ensuring transportation of oil products.
Source: Rossa Primavera
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