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Oil producers promise to increase fuel deliveries to Russian domestic market by 3%

June 09, 2018/ 12:12

Moscow. Russian oil producers promised at the meeting chaired by Deputy Prime Minister Dmitry Kozak to increase gasoline and diesel fuel deliveries to the domestic market by 3% year-on-year, a meeting participant told TASS on Friday.

"Vertically integrated oil companies confirmed their commitments to secure minimal wholesale deliveries of motor gasoline and diesel fuel with the increase by 3% against relevant monthly volumes of 2017," he said.

Companies also confirmed their commitments to sell at least 10% of produced motor gasoline and 5% of produced diesel fuel on the exchange.

Oil producers also made a promise to stabilize jet fuel prices at the meeting, a source in the aviation sector told TASS.

"The situation on the jet fuel market was also discussed at the meeting of Kozak and oil companies. Oil companies recorded their obligations to meet jet fuel needs of air carriers in full scope with stabilization of prices as of June 6," the source said.

The Russian government will monitor the situation with gasoline prices on a daily basis and oil producers abide by the promise of stabilizing domestic fuel prices, Deputy Prime Minister Dmitry Kozak said during the annual Q&A session of the Russian President on Thursday. The Federal Antimonopoly Service will provide situation updates to the government on a daily basis during the week, Kozak noted.

Exchange trading in diesel and gasoline rose 19% and 20% respectively over the week, Kozak said earlier.

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