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Russia Mulls Fuel Export Quota to Help Record Domestic Gasoline Prices

OIL PRODUCTS

Russia has not ruled out fuel export quotas as it looks to stabalise a domestic gasoline shortage according to Russian Deputy Prime Minister Alexander Novak.

  • "In principle, it is being considered. But there are other proposals too. We need to weigh the pros and cons," he said when asked about the possibility.
  • Gasoline wholesale prices have hit an all time high in the country.
  • Some refineries have postponed maintenance to support rising gasoline demand while higher overall refinery capacity in Russia in recent weeks is helping Russia to reduce its crude exports though diesel exports are nearing a record export pace this month as a result.
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