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Gazprom Neft Drops Winter Diesel and Aviation Kerosene Prices

Starting from today, Gazprom Neft cuts down winter diesel and aviation kerosene prices for the products marketed in all sales sectors from large-scale wholesales to retail. The leap was taken to steady the Russian oil products market, and the reduction of large- and small-scale wholesale winter diesel prices reached 1,500 rubles per ton in the regions of Gazprom Neft's activities. The retail chain reduces winter diesel prices correspondingly by at least 1 ruble per liter. The cost of jet fuel sold by the Company on an into-plane basis is reduced by 1,000 rubles per ton.

In early February, Gazprom Neft already reduced winter diesel prices by 1,000 – 1,500 rubles per ton as compared to the peak levels of this January. Concurrently, despite the persistent growth trend in jet fuel prices at the local market, the Company set a moratorium on aviation kerosene prices increase.