MOSCOW (Pakistan Point News / Sputnik - 25th December, 2018) The Russian internal market of petroleum products became premium compared to external one, Russian Energy Minister Alexander Novak said, commenting on the agreement to stabilize prices in the fuel market reached by the Russian Energy Ministry, the Federal Antimonopoly Service (FAS) and Russian oil companies.
In early November, the Russian Energy Ministry, the FAS and Russia's 10 big oil companies signed an agreement to stabilize fuel market that will be valid during the period from November 1 to March 31, 2019.
"Despite the fact that the agreement will be in place until March, the market already operates in different conditions: oil price decreased more than by $20 per barrel, subsequently, petroleum products price ... is much lower than the figure enshrined in the agreement ... Now the internal market [of oil products] is premium," Novak stated in an interview with Russia's Kommersant newspaper.
