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Russia temporarily limits export of gasoline and diesel fuel — government

According to the Cabinet of Ministers, temporary restrictions "will help saturate the fuel market, which in turn will reduce prices for consumers"

MOSCOW, September 21. /TASS/. The Russian government has introduced a temporary restriction on the export of gasoline and diesel fuel to stabilize the domestic market, the government’s press service reported.

"Russia has introduced temporary restrictions on the export of motor gasoline and diesel fuel. A decree to that effect was signed by Prime Minister Mikhail Mishustin. The decision is aimed to stabilize fuel prices on the domestic market," the statement says.

According to the Cabinet of Ministers, temporary restrictions "will help saturate the fuel market, which in turn will reduce prices for consumers."

Earlier, to stabilize the situation on the fuel market, the government increased the standards for the supply of motor gasoline and diesel fuel to the stock exchange.

Situation with fuel prices

In recent months, exchange prices for gasoline and diesel fuel have reached record levels in recent months, but began to decline this week. Last week, a source told TASS that the Russian government is considering two options for stabilizing fuel prices: a complete ban on the export of petroleum products for a certain period to fill up the market, as well as increasing the export duty to $250 per ton on petroleum products. First Deputy Energy Minister Pavel Sorokin said that a protective duty on fuel exports from Russia was considered as one of the possible measures to stabilize the market, but the issue of compensation for refineries in connection with it was not resolved.

Earlier Deputy Prime Minister Alexander Novak attributed the hike in wholesale fuel prices to an increase in prices for petroleum products on global markets, as well as to depreciation of the ruble against the dollar.

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