This winter’s low gasoline prices has lately been keeping inflation under control. Duma deputy Vladimir Ryzhkov (left) is seen at a rally protesting agaist soaring gasoline prices.
Photo: Alexey Kudenko
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Russian Gasoline Prices Inch Down
The price of gasoline has stabilized in Russia with a slight decline, the national statistics agency reported Tuesday. The average price for Ai95 dropped from 20.32 rubles in September 2006 to 20.12 rubles in early February, 1 percent down.
Gasoline prices in Russia rose 10.9 percent in 2006, the biggest hike coming in July, August and September. The government was then considering a temporary ban on the fuel price growth, but the prices declined by the end of summer.
Gasoline accounts for as little as 2 percent in the Russian consumer price index which the Statistics Agency uses in its calculations. But gasoline is also a component of transport expenses, which ultimately affects retail prices.
This winter’s low gasoline prices are keeping inflation under control. The situation, however, is likely to change in summer. To trend down the inflation to the officially forecasted 8 percent the government will probably have to re-consider state regulation of the prices. All the more, gasoline is likely to be growing fastest in the heat of the parliamentary election campaign.
www.kommersant.com
All the Article in Russian as of Feb. 14, 2007
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