Gasoline prices to grow by slightly in 2014 in Russia

Russia’s finance ministry forecasts that gasoline price growth in 2014 will not exceed 1.4 rouble per litre, Deputy Finance Minister Sergei Shatalov told journalists. “Given prices stay as they are, the budget manoeuvre plus the excise tax, the maximum growth in gasoline price will be 1.4 roubles, but this is the upper limit,” he said. “1.4 roubles per litre, taking into account both factors. Their shares are practically the same. Although, figures may be lower. We will ask the Federal Antimonopoly Service to keep a close eye on pricing. We believe the price formula for the domestic market should be revised and leveled against the oil products basket. Now, gasoline prices are unreasonably high, there is room for bringing them down. We have proposed to revise the formula. The issue has been discussed by the government and we, together with the Federal Antimonopoly Service, were asked to look at it more closely.” He also said that the ministry had not changed its forecast concerning the introduction of a 100 percent tax on dark oil products.