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WhatWood Events In Russia, gasoline prices rose in early 2019

In Russia, gasoline prices rose in early 2019

In Russia, after the new year holidays, the main result of the first trading day of the St. Petersburg international commodity exchange in 2019 was an increase in gasoline prices. Yesterday, January 9, the cost of gasoline rose to 5.5 %.

In Russia, after the new year holidays, the main result of the first trading day of the St. Petersburg international commodity exchange in 2019 was an increase in gasoline prices. Yesterday, January 9, the cost of gasoline rose to 5.5 %.

The price for gasoline AI-92 increased by 3% and amounted to 39.9 thousand rubles per ton, gasoline AI-95 — 5.5% or up to 40.9 thousand rubles per ton. The cost of winter diesel fuel decreased slightly by 0.08 to 55.5 thousand rubles per ton.

“The dynamics of prices fit into the agreement between the government and the oil industry,” – said the head of the Department of regulation of fuel and energy and chemical industry FAS Dmitry Mahonin. The Federal antimonopoly service (FAS) does not note the increase in gasoline prices in Russia since January 01, 2019 above 1.7%, as discussed in the agreement with oil companies. As reported by the Agency’s staff to the correspondent of “RIA “Novosti”: “in some regions recorded an increase in gasoline prices in the amount of not more than 1.7%”.

“Mainly the price increase occurred in the regions of the European part of Russia. In Siberia and the Far East, there are almost no changes. In addition, in a number of regions at the end of 2018, there is a decrease in prices (for example, in the Irkutsk region and Transbaikalia). Large vertically integrated companies justify the increase in prices by increasing VAT. Other causes and triggers for the rise in prices, the FAS Russia does not see”,- reported in Department of the FAS.

At the end of October 2018, Deputy Prime Minister Dmitry Kozak held a meeting, following which the Ministry of energy and FAS signed an agreement to stabilize the fuel market from 1 November to 31 March 2019 with ten major Russian oil companies: “Rosneft”, “Gazprom”, “Surgutneftegas”, “Company”, “Gazprom Neft”, “New thread”, “Neftegazkholding”, “Lukoil, “TAIF-NK” and JSC “Tatneft”.

Under the agreements, the company’s retail prices from January 01, 2019 were intended to increase by no more than 1.7% (taking into account the increase in VAT from 18% to 20% from 01.01.2009), and from February 01, 2019 prices will index them evenly so that at the end of the year they do not exceed the forecast annual inflation (4.6%). In case of non-fulfillment of these conditions, according to Mr. Kozak, “the companies will be jointly and severally liable, which implies the introduction of protective export duties on oil and oil products.”

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