Russian authorities want to increase mandatory fuel sales standards

The Russian government plans to make changes to the standards for mandatory fuel sales for local oil companies. This decision is designed to stabilize prices in the domestic market and meet the growing demand for gasoline and diesel fuel in the country.

According to the Kommersant publication, a possible increase in mandatory sales standards to 15 percent of the produced volume of gasoline and up to 12.5 percent of the volume of diesel fuel is being discussed. If approved, the changes would mark the second increase in mandatory fuel sales in as many months. In the summer of 2023, standards have already increased by one percentage point, reaching 13 percent for gasoline and 9.5 percent for diesel fuel.

However, the previous increase in standards did not lead to a noticeable decrease in fuel prices. On the contrary, the cost of petroleum products continued to rise in August-September due to an increase in oil prices on the stock exchange and the weakening of the ruble against world currencies. As a result, Russian oil companies began to prefer exporting fuel to supplying it to the domestic market.

In the second half of September, the government introduced temporary restrictions on the export of gasoline of all types and diesel fuel from Russia. These measures also affected diesel fuel purchased through exchange trading.

Previously, the World Bank predicted Russian economic growth of 1.6% in 2023. More about this read the material Public News Service.

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