Official: Budget cannot handle many fuel mkt regulation changes

MOSCOW, Jan 27 (PRIME) -- The Russian budget cannot afford to change the fuel price regulation mechanism constantly, a spokesperson for the Finance Ministry told PRIME on Wednesday, when RBC reported that Gazprom Neft CEO Alexander Dyukov asked to index the wholesale price in the fuel price regulating payment formula by inflation rather than by 5% every year.

"The budget cannot afford to introduce temporary changes to this mechanism each time depending on the price situation on the global markets,” The spokesperson said.

“Otherwise we will have to search for other ways to compensate the lost income to support the oil companies which is not possible now because there is more important budget spending."  

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