Russian energy Minister Alexander Novak during a videoconference with the leaders of Duma factions opposed the cheapest gasoline in the country. This was stated by the head of “Fair Russia” Sergei Mironov, quoted by RIA Novosti.
“Novak he began to talk about the formation of prices on domestic gasoline. He recalled that the deputies on 1 July last year adopted the so-called damping mechanism. He stressed that now the prices do not grow,” — said Mironov.
Damping addition to the new reverse the excise duty on oil was introduced in Russia in 2019. She needs to compensate for the loss of oil from the tax maneuver in the Russian oil industry, in which the gradual zeroing of export duties accompanied by an increase in the tax on extraction of mineral resources.
According to current rules, campfireusa allowance to reverse the excise duty paid oil companies in excess of world prices on oil products on a pre-set for the year ahead conditional price — in the amount of 60 percent of excess. Otherwise, the premium becomes negative and is actually paid by the companies to the budget, making it impossible for cheaper gasoline on the domestic market at lower world prices.
Market participants have repeatedly criticized the movement and called on the government to exclude the possibility of charging a negative bonus. However, such proposals were rejected. In the current situation the feedback mechanism of the damper is earned due to the sharp fall in world oil prices. in the midst of barrel of the American WTI with delivery in may was worth minus $ 40.
