FAS evaluated the impact of rising prices for jet fuel on the price of tickets

© RIA Novosti / mark Inorporate in Photobacterium fuel of the aircraft. Archival photoFAS evaluated the impact of rising prices for jet fuel on the price of tickets© RIA Novosti / mark Inorporate the image Bank

The Federal Antimonopoly service (FAS) of the Russian Federation to verify reports about the influence of the spring growth of aviation kerosene prices on rise in price of tickets, however, has doubts in the relationship of these phenomena, reported RIA Novosti head of the control TEK FAS Dmitry Makhonin.

On Friday the state Duma has instructed the economic policy Committee to request the government of the Russian Federation and the FAS information about the reasons for the increase in prices for jet fuel and measures to limit the cost of jet fuel and airline tickets. In the instruction it is noted that the cost of jet fuel on average at the airports of Russia increased by 15% from July 2017 to July 2018, «more than the rise in consumer inflation.» The «largest airlines (Aeroflot) plan to increase the price of their services.»

«Airlines are typically formed pricing on the purchase of kerosene, but I don’t know what each company is incorporated in the formula. However, the last two months the price of jet fuel on the stock exchange and the OTC market does not change. It’s hard for me to assume that (if – ed) the last two months the price has not changed, (–ed.) suddenly it will be the basis for growth of cost of tickets. We will investigate into this in more detail,» said Makhonin.

He noted that the FAS monitors the dynamics of price changes for jet fuel. «From the point of view of the price of jet fuel remains at the same level in the cost of tickets and aviation, nothing much has changed…. We don’t see a critical growth prices, the price rose in the spring, and now has stabilized,» — he explained.

While Makhonin recalled that in late may, along with measures of stabilization of prices for gasoline and diesel fuel, the government of the Russian Federation in the person of Deputy Prime Minister Dmitry Kozak has ordered oil companies to comply with the implementation of jet fuel in sufficient volume to meet demand.

In June, Deputy head of FAS Anatoly Golomolzin reported that the share of the Russian airlines ‘ cost for jet fuel in the structure of total expenditures decreased from 27% in the first quarter of 2014 to 20% in the first quarter of 2018. The greatest amount is spent on the rental and leasing of aircraft — about 27%.

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