MOSCOW, September 15 (RIA Novosti) - The growth of gasoline prices cannot be stopped at the moment, the chairman of the Union of Russian Oil and Gas Industrialists told a Thursday news conference.
Yury Shafranik said the government's "non-strategic" and "late" actions would result in the price for Russia's most popular gasoline rising to 20 rubles ($0.7) from the present 18 rubles ($0.63) per liter.
"For a year, wholesale prices for oil derivatives in Russia have grown fivefold on average, whereas retail [prices have only gone up] by 2.2 times," Shafranik said. "Retail prices will be catching up with the wholesale prices, therefore, prices are likely to grow significantly."
Shafranik said the government had some opportunities to stabilize prices, in particular, by ending monopoly practices in the oil and gas sector and changing the tax system.
