«Gazprom Neft» has signed an agreement to stabilize the fuel market in Russia

© RIA Novosti / Maxim to Aminopherase in fotosensibilizatora company Gazprom Neft. Archival photo«Gazprom Neft» has signed an agreement to stabilize the fuel market in Russia© RIA Novosti / Maxim to Aminopherase the image Bank

«Gazprom Neft» has signed an agreement with the Ministry of energy and FAS to stabilize the fuel market in Russia, said the press service of the oil company.

«Gazprom Neft» confirms the signing of an agreement with the Ministry of energy and FAS Russia on measures for stabilization and development of the internal market of oil products», — stated in the message.

The company notes that the fully implemented agreement with the government of the Russian Federation and is interested in further development of the Russian fuel market.

The Ministry of energy, FAS, oil companies and independent refineries at a meeting on 31 October agreed on the so-called measures of stabilization of prices in the fuel market, agreeing the level of supply of petroleum products to large and small wholesale at fixed volumes and prices. It was declared that the rates to the end of the year will be at the end of may — beginning of June and then slowly indexed in the framework of the annual inflation rate of 4-4. 6 per cent. Monthly production and sales of oil products should be 3% higher than the corresponding month in 2017. The agreement is valid until March 31.

Prime Minister Dmitry Medvedev on 7 November instructed the Ministry of energy and FAS to sign the agreement for stabilization in fuel prices with all the major oil companies.

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