Russia Holds 3m mt of Diesel in Storage: Novak

Russia has enough diesel to meet domestic demand, according to a statement from Russia’s Deputy PM Alexander Novak.

• Total diesel volumes in Russia’s storage facilities run by refineries and oil producers have reached 2.95m mt. Gasoline inventories were at 1.9m tons as of Sept. 20
• The statement follows a meeting between Novak and Oil Producers.
• The Russian government has introduced a temporary ban on the export of gasoline and diesel fuel effective Sep. 21. The objective is to stabilize the domestic market according to the government’s press service.
• Russian wholesale gasoline and diesel prices have been tumbling Friday after the ban on exports of the grades from the country. Prices for Russia's wholesale gasoline Ai-92 grade fell by 9.7% on the St. Petersburg International Mercantile Exchange (SPIMEX) on Friday. Diesel prices were down by 7.5%.