international magazine
06 / 2004


Russia experiences a surge in domestic crude and oil products prices. According to Moscow Fuel Association, from the beginning of the year gasoline retail prices hiked by 1920% (Goskomstat, government's statistic arm, puts the figure at 16.8%), while wholesale prices gained some 2730%. The government has already admitted that it has little if no control over the situation. An array of state agencies tries to influence the situation: the list of offered remedies features diverse options, but it is clear that none alone will be sufficient.