Diesel Fuel Exchange Price Broke Historical Record in Russia

The cost of diesel fuel at the St. Petersburg International Mercantile Exchange has grown to its maximum value since 2018, RIA Novosti reports. At the end of the trading session on June 15, this type of fuel was sold at 52,615 rubles per tonne (the price increased by 0.28 per cent); since the beginning of June, the index has shown a growth of 2.21 per cent. 

In turn, the Ministry of Energy does not see any risks for the appearance of the diesel fuel deficit, recalling that there is a damping mechanism to prevent the growth of prices for this kind of fuel in the domestic market above inflation.

Thus, if the export price of petrol and diesel fuel is higher than the conditional domestic Russian price, then the state will compensate oil companies for part of this difference so that they do not raise domestic prices. And if Russian prices turn out to be higher than export prices, the oilmen will share with the state a part of their super-profits.

Ru-Main, 17.06.2021

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