© Artyom Geodakyan/TASS
MOSCOW, June 1. /TASS/. The growth of prices for gasoline in Russia in 2018 may be higher inflation, but its contribution to the increase in inflation will be small, even taking into account the indirect effect. About TASS reported the press service of the Ministry of economic development.
“According to our estimates, the increase in gasoline prices this year may be slightly more than the inflation rate, however, its contribution to the increase in inflation will be small, even taking into account the indirect effect,” the Ministry said.
Dynamics of prices and the excise tax on gasoline in Russia. Dossier
The Ministry reminded that the consumer price of gasoline in January – April 2018 rose 1.5%. In may, according to Rosstat, gasoline prices rose by 5.7 percent .
To curb the growth of fuel prices in the domestic market, the government of the Russian Federation from June 1 reduced the excise duties on petrol and diesel by 3 thousand and 2 thousand rubles per ton, respectively. From 1 July, they can drop another 700 rubles.
Commenting on the question of how these measures might affect the market and cause a deficiency, the Ministry said: “since 2011, oil companies carried out the modernization of Russian refineries under the quadripartite agreements with the Federal Antimonopoly service of Russia, Rostekhnadzor and Rostekhregulirovanie, which contributed to increase the capacity of the secondary processes, structural changes in the direction of increasing the output of light petroleum products and increase refining depth. In 2016 the needs of the domestic market in gasoline and diesel fuel of class 5 are fully covered by production at Russian refineries”.