international magazine
10 / 2005


MOVING ON UP
MOTOR FUEL PRICES ON THE DOMESTIC MARKET KEEP ON SWELLING



The government had to resort to emergency measures to counter spiralling gasoline prices on Russia's domestic market — those mirror global rise of crude price. After tete-a-tete with Russia's minister of industry and energy Victor Khristenko, largest vertically-integrated oil companies announced «freezing» motor fuel prices as of 19 September. The decision is neither selfless nor timely — for the concession oil companies expect preferential treatment in return. Meanwhile, despite the cartel agreement motor fuel prices still edge up. One can only guess what is in store for Russia's oil products market after the New Year, when the agreement runs out.