Putin surprised the growth in gasoline prices at the falling oil prices

Putin surprised the growth in gasoline prices falling oil prices at 422 93 98 14
Maria Bondarenko, Ludmila Podobedov
Russian President Vladimir Putin is dissatisfied with an increase in retail prices of petroleum products at lower oil prices. Issue was raised at a meeting with members of the government. President also surprised the growth of prices in the retail sector, while in the wholesale, they are reduced. It's like all understand? And where FAS then looks? asked the head of state

Oil prices have almost reached the bottom, analysts say Bank of America Merrill Lynch (Bofa). By the end of the year North Sea Brent will return to the mark of 0 per barrel, as the spell is repeated a number of other analysts major investment banks
Russian President Vladimir Putin expressed outrage increase in retail prices of petroleum products in the apparent fall in world prices and called FAS draw attention to the situation. The statement was made head of state at a meeting with members of the government.

Some things cause, of course, questions: here 10% as of December 1 increased prices of petroleum products at lower world oil prices by 35%, Interfax quoted the president.

And that's not all However, the main growth was recorded in the retail sector, while in the wholesale prices are falling. It's like all understand? And where FAS then looks? Putin asked. The President called FAS continuously engaged in monitoring the level of prices.

Commenting on the acceleration of inflation in the country, Putin said that it there are objective reasons. It is clear that some things are objective. All that for imports is given that the national currency has changed due to changes in world energy prices, the president said.

As a second objective reason Putin called the restrictions on the importation of food imports. I think that this is a temporary phenomenon, keeping in mind that the current situation at prices linked to the cost of our companies, with the need to increase production. This will benefit farmers, and thus ultimately for all citizens of the country, Putin said.

In response, Minister of Economic Development Alexei Ulyukayev said that the growth rate of fuel prices in Russia are close to the level of general inflation on the consumer market. You mentioned gasoline prices rise 9.4% in November 2013. In fact it is only 0.3 percentage points higher than the overall increase in consumer prices, the rate of approximately one go, quoted Minister of RIA Novosti. The prices for diesel fuel grow more slowly, accelerated growth is observed only in the gasoline market, he added. Ulyukayev explained this change in the physical volume of supply of petroleum products to the market. If gasoline compared to the year before minus 2% physical volumes, then the diesel fuel plus 7%, the minister said.

With regard to the distribution network, we are now beginning to see a decline in margins, said Ulyukayev. At the same time, he noted that at the peak of the retail prices exceed wholesale 1.7 times, and now the ratio is only 1.5 times. We hope that this trend will continue in the future period, the minister said. # 8203;

According to RBC head of the control FEC FAS Dmitry Makhonin, the agency sent a letter Thursday to all the major oil companies, indicating that their retail gasoline prices do not meet the market trend lower prices for motor fuel in opte and global trend of falling oil prices . FAS market participants pointed to the need to bring the price of its gas stations in line with the market situation.

In the current FAS Thursday sent its own territorial authorities instructed to tighten control over the situation in the retail gasoline market in the field.

Trend to reduce the wholesale price of gasoline at the exchange happened fast, but such growth caused a significant imbalance in the price of gasoline and retail opte this summer, when wholesale prices rose much faster than the prices at the pump, said Makhonin.

According to him, on Monday, December 15 with the participation of management, FAS will consider the case previously excited about price manipulation on the stock exchange against Lukoil, Bashneft and Rosneft. In our opinion, this case is the cause of rising prices on the stock exchange, which preceded their current fall, he added. In addition, he said, the territorial authorities to consider complaints of Rosneft and Gazprom Neft of failure to supply fuel independently owned gas stations. # 8203;

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