Govt doesn't see risk of gasoline prices rising in Russia, observes tendency of market recovery - Novak
MOSCOW. Sept 1 (Interfax) - There are no risks of gasoline prices rising in Russia; on the contrary, a tendency of market recovery is seen, Deputy Russian Prime Minister Alexander Novak told reporters.
"We hold a meeting of the task force [for monitoring production and consumption of oil products] on a daily basis. In the holiday period, a task force meeting was also held daily with companies, practically in manual mode, and the volumes necessary for supply to the exchange were established," Novak said.
"We cut exports practically to zero, although we didn't implement a ban, [we agreed] with the Surgutneftegas company, the main exporter. They are supplying the whole volume [of gasoline] to the domestic market. These were additional measures in order for panic buying to disappear from the market and prices to partially correct. Therefore, I think that with the traditional fall in demand with the onset of autumn, it will be more normal still, so we don't see any risks of prices rising; on the contrary, we are seeing a tendency toward recovery of the wholesale-retail market," he said.