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A new mechanism for the formation of prices for gasoline will be launched from May 1
16 March 2021, 09:42
A new mechanism for the formation of prices for gasoline will be launched from May 1
During a meeting with Deputy Prime Minister Alexander Novak, relevant departments and top managers of large oil companies decided that the adjustment of the damper mechanism that determines the price of gasoline in the domestic market will come into effect on May 1.

According to Novak, the mechanism is important for the market, first of all, from the point of view of maintaining sufficient profitability of the retail segment, as well as for keeping the growth of final prices within inflation. The need for adjustments, the Deputy Prime Minister explained, is due to the current macroeconomic conditions, including the rise in oil prices.

"At present, the Ministry of Finance of Russia is preparing a corresponding draft law. It is planned that this mechanism will work from May 1, 2021 in order to maintain marginality in retail and price stability at gas stations", - Novak said.

Let us recall that the essence of the damper mechanism is that at high export prices for oil, refineries receive compensation in the form of a negative excise tax, and in the case of very low prices, on the contrary, they themselves must pay extra to the budget.

Since the beginning of this year, the indicative price of gasoline and diesel fuel, incorporated in the formula of the damper mechanism, has grown faster than the retail price. Oil workers asked to change its indicator, since the profitability of the filling station has significantly decreased.

Since the beginning of the year, the cost of Regular-92 gasoline has grown by 12.33%. During trading on March 12 - by 1.71%. In addition, the cost of liquefied petroleum gases on the exchange increased to 35.3 thousand rubles per ton, also updating the historical maximum. During this year, their price has already set records several times, having increased by 50% since January 1.

On March 9, Prime Minister Mikhail Mishustin instructed the Ministry of Energy to monitor prices for gasoline and diesel fuel, and on March 10, the government decided to adjust the fuel price on the domestic market set in the formula for the current damper mechanism.