The Federal Antimonopoly Service (FAS) currently sees no threat of fuel shortage in Russia, noting that the reserves are at the level close to 2016, deputy head of the department, Anatoly Golomolzin, informed. "Prices change close to inflation rates in the retail market. There's a trend that has developed in this market - in some periods, the dynamics of prices in the oil products market can outpace inflation, at other times - it lags behind. Overall, there's a long-term stable trend. As for the wholesale market, in the mid-annual measurement, prices also change pretty close to inflation. Gasoline prices are slightly ahead, diesel fuel prices are slightly behind. In general, prices are pretty predictable," Golomolzin said.
According to him, trends in this market have changed - it became more volatile: During the period of lower demand prices have changed significantly. During the period of high demand prices have grown significantly. The same thing happened last year and a year before that. This year's situation is more stable, prices in the wholesale market are changing more smoothly. Gasoline is growing at a slightly higher rate, diesel fuel - at a slower pace."
Meanwhile, according to him, the wholesale market of oil products remains sensitive to the actions of large players: "I'm talking about the need of unconditional compliance with the requirements and parameters of the exchange trade by oil companies. When these requirements and parameters are complied with, it immediately affects the volatility of prices in the wholesale market. A month ago we had to issue a warning to the oil companies like Rosneft, LUKOIL and Gazpromneft about the need to ensure compliance with such requirements. They understodd everything, which stabilized the price situation in the wholesale market, making it more stable."
Everything also depends on how often refineries are repaired: "Repair works at large refineries can affect the supply in the domestic market. In these cases, we help oil companies, so that during repair period there would be sufficient supply of petroleum products to the domestic market. They have various options of how to do it."
Deputy head of FAS has assured that the market situation is predictable and is controlled by antimonopoly authorities: "Existing institutions, including those monitoring the dynamics of prices in the wholesale and retail markets, as well as issues associated with monitoring whether oil companies comply with rules, they help to keep things under control."
Meanwhile, as the head of the St. Petersburg International Mercantile Exchange (SPIMEX), Alexei Rybnikov, said, 5.4 million tons of oil products were sold at the exchange trades during the first several months of 2017: "This is 7% more compared to the same period of 2016. Overall, in terms of volumes of exchange trade, we're currently at the level approaching 20% of volumes of supplies to the domestic market."
The growth of liquefied petroleum gas (LPG) at the exchange trade is a new market trend. "All major LPG producers are already trading at SPIMEX - Rosneft, Gazprom Gazenergoset, LUKOIL, Surgut, Gazprom Neft, SIBUR, Surgutneftegaz. Right now our task is to reach indicators that meet the requirements of joint order of the FAS and the Ministry of Energy. It will allow us to use the exchange indicator as a real market indicator, which is necessary not only for the country, but also for the companies themselves."
According to Rybnikov, there are currently implementing a project, thanks to which Transneft will receive the status of commodity deliveries operator: "We hope to launch this project in the autumn. Its target is to accelerate the deliveries of petroleum products and accelerate the implementation of stock exchange transactions."
