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Russian Ban on Gasoline Exports Remains

OIL PRODUCTS

The Russian ban on gasoline exports remains in place, while diesel exports by rail are also banned according to Russia’s Deputy PM Novak on Monday.

  • On Friday Russia lifted a ban on pipeline diesel exports via ports.
  • Russia is set to reinstate subsidies, or damper payments to refiners in full Novak said, “This will provide economic incentives to saturate the domestic market with fuel and, as a result, will help maintain a stable price situation on the stock exchange and in retail.”
  • Since the ban was introduced September 21, wholesale diesel prices on the local exchange have fallen by 21%, while gasoline prices are down 10%.

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