The FAS Russia has offered airlines to more actively use exchange mechanisms for the purchase of jet fuel, TASS reports. This will saturate the domestic market and lower the initial maximum prices.
“The Antimonopoly Service recommends that airlines more actively purchase aviation fuel at exchange auctions, because this will provide a direct producer-consumer chain. If airlines begin to enter exchange trading and use exchange indicators when forming the initial maximum prices, pricing will become more transparent, and this is one of the ways to keep prices down, ”the FAS noted.
On November 1, the price of aviation kerosene according to the territorial European index on the stock exchange increased by 2.3% during the day and amounted to 58,270 rubles. per ton. This figure has become a new record.
Since August 1, 2019, a damper mechanism for aviation kerosene has been operating in Russia. It starts working when the export price of fuel exceeds the conventional level of domestic prices for kerosene in Russia (for 2021, the indicator is set at 53,250 rubles per ton). By analogy with the damper for gasoline and diesel fuel, it is paid for each ton of consumed fuel. But the damper surcharge to the reverse excise tax can be received not by oil refiners (as is the case with automobile fuel), but by airlines to compensate for losses.
The mechanism was introduced on behalf of Russian President Vladimir Putin. It is designed to curb the rise in airfare, the president said. The airlines’ expenses will be reimbursed from oil and gas budget revenues. Since 2019, export prices for kerosene have never exceeded the conditional levels of domestic prices for this fuel set by the government.