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Russia’s Gasoline Ban Preventive Measure: Novak

OIL PRODUCTS

Russia’s gasoline export ban which will begin March 1 for six months is a preventative measure, according to the country’s deputy PM Alexander Novak, cited by Interfax.

  • Novak said that the situation in the domestic fuel market is stable and there is no shortage of car fuel.
  • The temporary ban should increase domestic gasoline supplies ahead of an expected demand uptick in spring and summer and while a refinery is closed for maintenance.
  • The government will lift the ban early if the market is saturated and there is surplus supply.

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