5 Oct 2023 14:47

It is important for FAS not to overdo its regulatory actions in the fuel market - Head of FAS Shaskolsky

MOSCOW. Oct 5 (Interfax) - It is important that the Federal Antimonopoly Service (FAS) not overdo it with regulatory actions in the fuel market, agency head Maxim Shaskolsky told reporters.

"Now we are analyzing the situation as a whole [in the fuel market]. So far, we have found abuses in individual companies, and they are being checked. These are traders as well as oil depots. We are also looking at the medium wholesale segment; there are violations there, and we are still checking," he said.

Answering the question about what benchmark prices at gas stations FAS has set for oil workers and independent gas stations, Shaskolsky said, "This should be an economically justified level. We are saying that oil companies are obliged to provide for domestic consumers, including agricultural producers. Now measures have been taken, and "they have led to a reduction in prices in all segments of the motor fuel market, which makes it possible to purchase for future use at good prices."

"Here we need not overdo it with regulatory measures. Companies are not in an easy position; we need to take into account the situation and the need for investment, development, maintaining production, and maintaining plants at full capacity. We must not allow any measures to cause a decrease in oil refining volumes. Therefore all measures must be verified," the head of FAS said.

As to whether measures are being developed for the fuel market similar to those in the fertilizer market, as was proposed by the Russian President, Shaskolsky said, "Such proposals are also being studied."

As reported, FAS sent a letter to oil workers and independent gas stations about the need to reduce fuel prices. The agency explained that the reduction in prices at gas stations should occur due to the decrease in the cost of fuel on the stock exchange. The agency is waiting for reporting information from oil companies and independent gas stations on the measures that have been taken. "In the absence of measures taken by organizations, the service will consider that as a sign of violation of the antimonopoly legislation," the FAS press release said.