The government did not support the idea of regulating fuel prices

The Russian government did not support the initiative to regulate prices for gasoline and diesel fuel, which was put forward by representatives of the LDPR, Izvestia writes.

Earlier, a group of deputies introduced a bill on the Cabinet of Ministers establishing maximum permissible retail prices for gasoline and diesel fuel and the procedure for their establishment.

The draft government recall signed by Deputy Prime Minister and Chief of Staff of the Government Dmitry Grigorenko states that the introduction of state regulation will lead to distortion of market pricing and will disincentivize investments in the modernization of refineries and the development of gas station networks, creating a situation of insufficient incentives for fuel supplies to the domestic market. In turn, this, as noted, will create the preconditions for a shortage and lead to an uncontrolled rise in prices.

“Given the above, the government does not support the bill,” the document says.

Grigorenko’s office confirmed the preparation of the review, but emphasized that the document is still being prepared.

Experts believe that the idea of state regulation of prices for gasoline and diesel is PR aimed at uninformed voters.