Russia Orders Oil Companies To Freeze Gasoline Prices -Report
January 23 2012 - 2:39AM
Dow Jones News
Russia's government has reached an informal agreement with the
country's oil companies to freeze gasoline prices until the spring,
the Kommersant daily reported Monday, citing Energy Minister Sergey
Shmatko.
The government has "agreed in principle" with oil companies,
other market participants and regional authorities to hold
wholesale and retail gasoline prices at the December 2011 level,
despite a rise in excise taxes this month, Shmatko said in the
report.
The paper cites unidentified representatives at oil companies as
saying Deputy Prime Minister Igor Sechin has given a "direct order"
to freeze wholesale and retail prices until after the presidential
election on March 4.
The measure comes after filling stations halted operations
across the country last year due to shortages, as artificially low
domestic prices had prompted producers to ship more oil products to
export markets.
Newspaper website: www.kommersant.ru
-By Moscow Bureau, Dow Jones Newswires; +7 495 232 9192
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