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Russia - FAS proposed to keep the damper mechanism for the fuel market in 2022

Russia (bbabo.net) - The Federal Antimonopoly Service (FAS) has prepared a number of proposals to stabilize prices on the fuel market in 2022. This includes, among other things, an increase in the standard of fuel sales on the exchange, as well as a proposal to keep the damper mechanism in its current form. This was announced during a press conference by the head of the service Maxim Shaskolsky.

He recalled that the Antimonopoly Department, together with the Ministry of Finance and the Ministry of Energy, took a number of measures this year to stabilize fuel prices. According to Shaskolsky, similar proposals have been prepared for the next year. Among them there is a proposal to increase the volume of fuel sales on the exchange. The second suggestion is to adjust the damping mechanism. This is when the budget pays extra to oil companies supplying fuel to the domestic market in the event of high world prices, compensating for their losses from export restrictions, and vice versa - it withdraws part of the companies' income when it is more profitable to work on the domestic market.

"There is a proposal to fix the level of the indicative price of the damper, which now exists, and not to change it for next year. To reduce the deviations from this price to 10%," said the head of the FAS, whose words are reported by TASS.

Maxim Shaskolsky explained that all these mechanisms are aimed at protecting the domestic market from the influence of global trends. He also recalled that the decision on the damper mechanism is made by the Ministry of Finance.

Earlier, the FAS reported that they expect a decrease in the growth rate of retail prices for gasoline in the remaining days of December due to a drop in wholesale prices. In particular, the deputy head of the FAS, Vitaly Korolyov, explained that the sale of gasoline at gas stations has now become profitable, and gas stations have reached a fairly high level of marginality.

Russia - FAS proposed to keep the damper mechanism for the fuel market in 2022