The G7 countries plan to introduce two different price ceilings for Russian oil products from February, depending on their cost. It is specified that one price limit will be set for products traded at a premium to crude oil, and another for those sold at a discount. In December, the G7 countries, together with the European Union and Australia, have already introduced a maximum price for Russian oil exported by sea at $60 per barrel. The price ceiling for Russian oil products should come into force from February. At the same time, experts note that it is much more difficult to limit prices for petroleum products than for crude oil, since the range is very large, and the cost of products often depends on where they are bought, and not where they are produced. Thus, the Big Seven proposes to introduce two price ceilings, since diesel fuel and kerosene are usually sold at a premium to crude oil, while fuel oil is at a discount.
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