The FAS allowed an increase in the fuel sales standard on the derivatives market in the future

Fuel sales standards on the derivatives market may increase in the future. The standard was introduced on March 1 in the amount of 1% of petroleum products from sales standards in the main section. The Federal Antimonopoly Service of Russia believes that now the standard of 1% is sufficient, but in the future the situation may change. First, it is necessary to observe how the derivatives market will work and how much demand it will have, said Deputy Head of the FAS Vitaly Korolev.

“Buyers are interested, suppliers are cautious, but in general the tool is still in demand, it will develop further,” he said on the sidelines of the Exchange Commodity Market 2024 forum (quoted from Interfax). Mr. Korolev also reminded that sales on the derivatives market are only advisory in nature. The introduction of mandatory sales was discussed, but did not find support.

According to the deputy head of the FAS, it is now necessary to monitor the progress of sales of petroleum products on the derivatives market for a couple of quarters in order to assess the performance of the market for further innovations.

On March 13, FAS following a meeting of the Exchange Committee reportedthat Russian oil companies have committed to increase additional supplies of fuel to the stock exchange by the end of March. In the fall of 2023, the FAS sent a letter to oil companies and independent gas stations about the need to reduce fuel prices. At the same time, cases were initiated in five regions on grounds of violation of the law on the protection of competition.

About wholesale fuel prices – in the material “Kommersant” “Gasoline is not afraid of the embargo”.

Evgeny Belousov