Medvedev stated that fuel prices are still creeping up

29 October 2018

The Prime Minister moved on to threats

The measures taken don't work, threats are not effective. On Monday the meeting of Dmitry Medvedev acknowledged that government initiatives designed to lock in fuel prices at the current level, do not have the desired effect. Now the Prime Minister moved on to threats.

a "I wish the Ministry of energy spent in next few days consultations with our oil companies. We agreed that we will adopt a plan of work and a specific agreement on maintaining the existing level of prices for petroleum products on the domestic market. Or in the near future I'll have to sign the decision on whether to enter prohibitive duties on oil and petroleum products below the market situation was more stable", said on Monday Medvedev.

According to the "statements" according to, the price tags at the gas station last week rewrote "Netmaster", "Tisa", "Astra" petrol station, Shell and BP. While growth remains small (4 cents for gasoline AI-92 and 5 kopecks for AI-95), but it is not noticeable even weekly chart (from 22 to 29 October).

Without serious intervention, the situation gets out of control in the near future. Even if the government will manage to constrain growth in the next two months, the situation at the beginning of 2019 will be unpredictable. Rather predictable, but very negative: from 1 January in Russia will increase fuel excise duty and VAT rises from 18% to 20%. Only one of these factors enough to price tags at the pump struck a new mark, but the court imposed even the ever-growing cost of fuel on the wholesale market.