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Russia will not introduce state regulation of oil products prices — Deputy PM

The Russian government is going to get rid of manual control of the oil sector, a Russian deputy prime minister said

MOSCOW, November 13. /TASS/. Russia does not intend to regulate oil products prices at the state level, Deputy Prime Minister Dmitry Kozak said on Tuesday in an interview with Rossiya 24 TV Channel.

"What we do not want and will not do, is to introduce state regulation of oil products prices. The market mechanism has established itself at present in any way," the official said.

The Russian government is going to get rid of manual control of the oil sector, Kozak said.

"We will get rid of this [manual control]. We will definitely abandon it. We introduced such mechanisms that will be effective, should be effective without our participation," he said.

Russia’s largest oil companies early assumed an undertaking to fix wholesale prices for gasoline and diesel fuel at the June level until 2018 year-end and not to adjust them upward above the inflation level.

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