MOSCOW, August 31 (RIA Novosti) - Russia's economics ministry will submit to the government a coordinated draft resolution on the establishment of a petroleum derivatives exchange, a deputy minister said Thursday.

Earlier, an official from the Union of Oil and Gas Industrialists said the establishment of such an exchange would be positive for the country, as it would allow oil products to be sold without relying on "gray schemes". He said gasoline prices would be kept within the planned limit.

"We are now discussing this draft with other institutions," Kirill Androsov said. "In mid-September, we plan a coordinating conference, and by the end of September we will submit a coordinated draft resolution to the government."

Androsov said he hoped the resolution would be signed by November. He said he could not provide any more details yet.

Earlier, Economic Development and Trade Minister German Gref said a petroleum derivatives exchange would appear in Russia by the end of the year.