Pavel Sorokin to Vestnik Kavkaza: government to provide stable fuel prices

Pavel Sorokin to Vestnik Kavkaza: government to provide stable fuel prices

Motor fuel is one of socially significant goods, therefore, the Russian government, being a socially oriented, will protect its prices from sharp fluctuations, Russian Deputy Energy Minister Pavel Sorokin said, speaking to Vestnik Kavkaza.

"We have a market economy, so price setting is conducted within the framework of market mechanisms. At the same time, we understand that gasoline, diesel fuel and motor fuel are socially important goods. If a sharp rise in prices occurs, it may affect not just whole economy, but the population," he noted in the first place.

"In this regard, in conditions when sharp price spikes are possible, the government should create conditions to avoid such fluctuations.I mean such mechanisms as an absorbing element of the reverse excise tax and the establishment of increased standards for supplies to the domestic market. Both mechanisms are aimed at creating an economic incentive for selling fuel within the country," Pavel Sorokin said.

"We believe that the complex of these measures will be sufficient to provide the domestic market with motor fuel by economic means and keep the petroleum prices  growth within the limits of inflation," the Russian Deputy Minister of Energy concluded.

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