As of November 17, the government lifted the temporary restriction on the export of gasoline and diesel fuel, introduced at the end of September due to rising fuel prices in Russia. This was reported in the official telegram channel of the Ministry of Energy.
“Over the past two months, while maintaining high volumes of oil refining at refineries, saturation of the domestic market has been ensured and a surplus in the supply of motor gasoline has been created, including in the exchange sales channel.” , the message said.
According to the authorities, after the introduction of the restriction, “exchange wholesale prices for motor gasoline decreased significantly,” and there were “about 2 million tons” of fuel in stock.
Another reason for lifting the ban, the Ministry of Energy added, was the beginning of the winter season, during which demand for fuel decreases. This could lead to unloading of oil refineries. If necessary, the authorities plan to return restrictions.
The export ban was introduced on September 21. The government argued that it would help “saturate the fuel market, which in turn will reduce prices for consumers.” At the same time, today’s announcement about the lifting of restrictions does not mention a decrease in consumer prices.
Fuel in Russian regions began to rise in price since the summer. For example, as 161.ru wrote, in the Rostov region, diesel fuel rose in price by 14.3% in two months — to 63 rubles in September. A similar situation was reported in other regions, for example, in the Volgograd, Tula and Kurgan regions, as well as in Tatarstan and Khakassia.
“Volumes are exported because it is more profitable for the oil company. Accordingly, we are experiencing a shortage. And when you work on small balances, you experience temporary difficulties and interruptions,” said Ekaterina Savkina, managing partner of the GP Vympel gas station network in the Saratov region.
Today the State Duma adopted a law according to which oil companies will be able to receive budget money if their export price is higher than the conventional price of fuel on the domestic market. In September the damper was halved. In addition, on October 6, the government eased restrictions, allowing the export of diesel fuel via pipeline.
As Reuters wrote with reference to sources in the industry, Russian fuel producers became aware of the lifting of restrictions at the beginning of the month. “In connection with this promise, we have formed an export schedule and a processing plan,” added one of the agency’s interlocutors.
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