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MOSCOW, Nov. 15 (UPI) -- A senior Russian oil executive has told the country drivers are paying more for gasoline because production isn't meeting demand, Itar-Tass reported Monday.
Speaking on the Moscow-based government news channel ORT, Leonid Fedun, the vice-president of Lukoil said the trend of more Russians buying cars is part of the price escalation.
"(The) production of gasoline doesn't keep pace with a growing demand for it, because the number of cars is growing faster than our ability to fuel them," he said.
However, he said the country benefits on the whole from high prices, as the higher the price, the more tax is collected.
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Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since...
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What if Europe turned out to be the new Japan?
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