Putin and Novak at Odds Over Domestic Fuel Prices

Further on Putin and Novak comments yesterday: Wholesale gasoline and diesel prices have fallen considerably in Russia as a result of the export ban that began last week according to Deputy PM Alexander Novak.

• He said wholesale prices for gasoline decreased by 20% and prices for diesel fuel dropped by 16% since the ban on fuel exports was introduced on September 21.
• "We monitor selling prices for diesel fuel in all constituent entities of the Russian Federation; in 23 regions, since the 21st [of September], prices have decreased by an average of 5% on the small wholesale market and at oil depots, the range is approximately from 1 to 17% by region," the Deputy Prime Minister said.
• Russian domestic fuel prices initially eased on the local commodity exchange, but began to creep up again after an easing of the restrictions was announced over the weekend which prompted a response from Putin.
• "The measures have been taken, but the prices are rising... The consumer needs a result," Putin said. "I'd ask you to react to events more promptly." He said to Novak in response to prices at the pumps not reacting sufficiently to the new measures.