Deputy PM Novak says sees no need in fuel price deals

KSTOVO, Nizhny Novgorod Region, Jun 18 (PRIME) – There is no need to sign fuel price stabilization agreements, Russian Deputy Prime Minister Alexander Novak said on Friday, adding that a meeting with oil companies was scheduled for June 22.

"We have ordered the Energy Ministry to assess the market situation. There is such a possibility but to decide whether there is a need in introducing it or not, we must analyze the situation additionally and see," Novak told reporters.

The Russian government signed fuel price stabilization deals with 10 large companies in 2018, where the price increase was tied to forecasted inflation in 2019. The agreements ended in 2019 and the market started to shape the prices.

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