06.10.2023, 09:53
The Government has approved measures to stabilize the domestic fuel market
Source: OREANDA-NEWS
OREANDA-NEWS The government has approved additional systemic measures to maintain stability in the fuel market, the press service of the Cabinet of Ministers reported. From October 1, the fuel damper is being restored, for which the Tax Code will be amended accordingly.
The change in the damper coefficient from 0.5 to 1.0 will increase the amount of compensation to refineries for the loss of income from the sale of motor fuel in the domestic market, the press service noted.
"This will provide economic incentives to saturate the domestic market with fuel, restrain the growth of wholesale exchange prices, which as a result will contribute to maintaining a stable price situation in retail at a level close to inflation," the report says.
The standards for mandatory sales of Ai-95 gasoline on the stock exchange are increasing — from 13 to 15 percent, diesel fuel — from 9.5 to 12.5 percent. These changes will increase the guaranteed volume of fuel supply at exchange auctions and increase the share of transactions concluded on competitive terms.
To prevent gray exports, a protective duty on petroleum products is being introduced.
It will amount to 50 thousand rubles per ton for those suppliers who do not produce fuel themselves, but buy it on the market for resale. Thus, attempts by resellers to purchase fuel in advance for subsequent export after the lifting of restrictions will be stopped. This will also prevent them from exporting fuel under the guise of other products, according to the government.
Restrictions on the export of diesel fuel to ports via pipelines are being lifted. This applies to those who supply at least 50 percent of what is produced to the domestic market, the press service said.
The change in the damper coefficient from 0.5 to 1.0 will increase the amount of compensation to refineries for the loss of income from the sale of motor fuel in the domestic market, the press service noted.
"This will provide economic incentives to saturate the domestic market with fuel, restrain the growth of wholesale exchange prices, which as a result will contribute to maintaining a stable price situation in retail at a level close to inflation," the report says.
The standards for mandatory sales of Ai-95 gasoline on the stock exchange are increasing — from 13 to 15 percent, diesel fuel — from 9.5 to 12.5 percent. These changes will increase the guaranteed volume of fuel supply at exchange auctions and increase the share of transactions concluded on competitive terms.
To prevent gray exports, a protective duty on petroleum products is being introduced.
It will amount to 50 thousand rubles per ton for those suppliers who do not produce fuel themselves, but buy it on the market for resale. Thus, attempts by resellers to purchase fuel in advance for subsequent export after the lifting of restrictions will be stopped. This will also prevent them from exporting fuel under the guise of other products, according to the government.
Restrictions on the export of diesel fuel to ports via pipelines are being lifted. This applies to those who supply at least 50 percent of what is produced to the domestic market, the press service said.
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