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Russia Fuel Supplies Stable Amid Unplanned Refinery Repairs: Novak

OIL PRODUCTS

Russia's domestic petroleum products market is currently fully supplied according to Deputy Prime Minister Alexander Novak cited by Interfax.

  • The fuel market has been stabilised by the measures taken by the government last autumn allowing the growth of gasoline and diesel fuel prices at gas stations below the rate of inflation.
  • "The characteristic of this year is that in January two refineries are down for unscheduled repairs,” he said.
  • “We are taking measures to ensure that the domestic market does not feel this unscheduled maintenance. Measures have been taken to increase gasoline production and reduce exports, which will allow us to increase supplies to the domestic market.”
  • Novak will hold a meeting on Thursday with executives of Russian oil companies to discuss the domestic fuel market and regulators are constantly monitoring the situation.

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