Prices and Pricing

Prices for oil products manufactured by the domestic refineries are mainly determined by the price for oil supplied to the refineries, wich 90% being imported. It should be noted tat the price for imported Russian oil supplied to the refineries in 2005 was little different from the European price.

Crude oil world price history (Brent)

External Market Price Ratio

Optimization of prices for oil and oil products will be favored by growth of competition on the oil market, diversification of supply sources, employment of flexible mechanisms for light oil market replenishment that would combine a rational ratio of market openness for oil product importers and the presence of a domestic competitive producer. Establishing a strategic fuel reserve can become a key factor in fuel price formation.