OREANDA-NEWS  Representatives of the Federal Antimonopoly Service (FAS) are ready to initiate discussions on a ban on gasoline exports for a month. This was stated by Deputy head of the department Vitaly Korolev, quoted by TASS.

This initiative, according to the FAS, will help stop the rise in wholesale fuel prices on the St. Petersburg International Mercantile Exchange (SPIMEX). The correction in the cost of gasoline in Russia occurs after a prolonged decline in the wholesale segment, Korolev explained. He called the temporary ban on the export of fuel by manufacturers one of the operational measures. "It should stimulate the stabilization of wholesale prices ahead of the planting season," he concluded.

The increase in fuel demand, Korolev added, is recorded after a decrease in the number of trading sessions in January. This circumstance, coupled with the limited supply on the domestic market, eventually leads to an increase in wholesale prices on the stock exchange. According to him, the formation of a forecast market for petroleum products based on the futures market would help regulate seasonal demand for fuel. He considered such a measure a strategic task. In this scenario, the deputy head of the department explained, consumers would be able to purchase gasoline in advance with a certain delivery date.

The increase in quotations has been recorded on the site over the past two weeks. During this time, they have gained almost 20 percent. During trading on Thursday, February 6, quotations of the main fuel brands rose to their highest levels in two months. The wholesale cost of a ton of Ai-92 by this date reached 56,148 rubles (plus 19.6 percent), Ai-95 — 58 257 rubles (plus 17.7 percent). Against this background, the Russian authorities extended a temporary ban on gasoline exports until February 28. At the same time, this measure was not extended to supplies carried out by direct manufacturers. Such a scheme serves as a barrier for those wishing to resell fuel going to the domestic market.