Positive trends seen in Russian fuel market for both gasoline, diesel; pricing adjustments must continue - govt
MOSCOW. Oct 22 (Interfax) - The Russian Energy Ministry gave a report on the balance of production and consumption of petroleum products during a meeting with Deputy Prime Minister Alexander Novak, the government press service said.
"Thanks to previously adopted compensatory measures, the market is showing positive dynamics for both gasoline and diesel fuel. Production has increased and stockpiles are being built," it said.
Special attention was paid to collecting and updating data in the state information system for the fuel and energy complex (GIS TEK). "This enables continuous monitoring of fuel reserves in each region and the functioning of filling station infrastructure, and prompt action to adjust the domestic market situation," the press service said.
The Federal Antimonopoly Service reported on measures to prevent violations of antitrust legislation in the petroleum product market: 74 cases have been initiated and 105 warnings issued. Efforts continue to conclude agreements between regional authorities and independent gas stations to stabilize prices. To date, 127 agreements have been signed in 45 regions.
Regional authorities reported on the current situation with fuel supplies, the operations of filling station networks and the dynamics of petroleum product prices. The meeting addressed the situation in the Krasnoyarsk and Stavropol territories, Penza, Rostov, Ulyanovsk and Omsk regions and republics of Karelia and Bashkortostan.
Novak called for work to continue, particularly on "pricing adjustments."
"We are seeing positive dynamics in the fuel market, thanks to joint efforts by the federal and regional authorities, as well as companies from the sector. We must continue to work hard in key areas. This includes adjusting petroleum product pricing, collecting data across all regions for prompt decision-making and continuing to conclude agreements with independent market participants," he was quoted as saying.
