Novak orders additional fuel market support measures to be developed

Novak orders additional fuel market support measures to be developed Participants in the meeting reviewed the current situation regarding supplies of petroleum products to Russian regions and analyzed pricing trends across the federal districtsRussian Deputy Prime Minister Alexander Novak© Grigory Sysoyev/POOL/TASSMOSCOW, June 26. /TASS/. Russian Deputy Prime Minister Alexander Novak has instructed relevant agencies, together with regional authorities and companies, to develop a clear mechanism for promptly supplying agricultural producers with fuel, as well as to work out additional measures to support the fuel market and preserve its stability, the Russian government said following another meeting on the fuel market situation. "Alexander Novak instructed the relevant agencies, together with regional authorities and industry companies, to develop a clear framework for interaction to ensure the prompt supply of fuel resources to agricultural producers and farmers. Additional measures to support the fuel market, aimed at preserving its stability and improving the efficiency of supplies to key categories of consumers, also need to be worked out," the statement said. Participants in the meeting reviewed the current situation regarding supplies of petroleum products to Russian regions and analyzed pricing trends across the federal districts. Particular attention was paid to farmers' fuel needs during the harvesting campaign. "The need to ensure uninterrupted supplies of the necessary resources to agricultural producers during the seasonal peak in demand, on which the pace and quality of field work directly depend, was emphasized," the government said in the statement. Representatives of industry companies reported on current production capacity utilization, petroleum product output schedules, and measures being taken to saturate the domestic market. Novak instructed participants to develop a clear framework for interaction to ensure the prompt supply of fuel to agricultural producers and farmers and to work out additional market support measures aimed at preserving market stability and improving the efficiency of supplies to key categories of consumers. Novak earlier told TASS that Russia is currently experiencing a surge in demand for fuel that has been artificially inflated. According to him, "there is enough fuel on the market; the logistics system is currently being reconfigured in line with demand." He noted that panic buying had artificially increased demand by around 20-30%. The deputy prime minister explained that the supply system is being adjusted and fuel logistics are being reshaped depending on the needs of individual regions. 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