Fuel Union Predicts Drop In Prices For Gasoline In Russia

Prices for gasoline may plummet 30 per cent in Russia in the near future, chairman of the Russian Fuel Union Sergey Borisov announced at a press conference today. The conference was devoted to a drop in oil prices on international markets. He mentioned that gasoline prices have already dropped 25 per cent on the Russian domestic market to about 1,200 rubles per ton. Borisov noted that the Russian federal budget will lose about 20 per cent of its revenues due to this fall.