Measures to reduce fuel prices have shown results

Prices have decreased after increased fuel costs in Russia in spring and summer and peaked in September. To this end, the Russian authorities made several decisions.

After the spring fuel price increase in the country, head of state Vladimir Putin signed amendments to the Tax Code in July. They noted a decrease in the damper (in January-October, the total amount of compensation to oil workers amounted to 1.138 trillion rubles, which is 38% lower than what was paid for the same period in 2022).

After rising fuel prices in August, a document was issued to increase the minimum gasoline sales on the stock exchange from 12 to 13% and diesel fuel from 8.5 to 9.5%. This decision was made to saturate the domestic market with fuel. Then, the Ministry of Energy noted that two options are being considered to combat the gray export of petroleum products in Russia: a register of exporters and export licensing.

But these measures were not enough. In mid-September, the president said that the Cabinet of Ministers did not react to price changes on the world market due to rising oil prices.

On September 21, the country temporarily banned gasoline and diesel fuel exports. Retail prices for this type of product peaked on September 25 and then began to decline.

Bashinform News Agency reported reduced gasoline prices at Bashneft gas stations.

Author: Sergey Nikolaev