Deputy PM says Russian companies do not sell oil at price cap

SOCHI, Oct 3 (PRIME) -- Russian companies comply with the decree on not selling oil at the price ceiling, Russian raw materials are traded at a market price, Russian Deputy Prime Minister Alexander Novak told reporters on Tuesday during the Valdai Forum.

“Initially, when the price cap was introduced, we said that this is an unworkable tool. It makes things worse for the consumers, for the entire global energy market. A special decree was issued by the Russian president on non-compliance with the price cap terms in contracts. Our companies are working under the decree, we are strictly complying with this,” he said.

Small wholesale prices for diesel fuel decreased from 3,000 to 10,000 rubles per tonne, depending on the region, after a fall in stock exchange prices, he also said.

The ban on gasoline and diesel exports from Russia will last as long as necessary to ensure stabilization of the domestic market, the official said.

The aim of the Russian government is to ensure that the fuel prices at the gas stations in the country do not rise above inflation this year, he also said.

(98.4785 rubles – U.S. $1)

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