Bloomberg reports that Russia’s ban on diesel exports looks set to worsen shortages in global fuel markets as demand is expected to dip in the winter months.
After Russia’s unexpected ban on exports to Asia, the price of diesel fuel rose, writes Bloomberg.
The agency said Russia’s ban on diesel exports looks set to worsen shortages in global fuel markets as demand is expected in the winter months.
The recovery of Chinese aviation is also said to be accelerating, driving consumption of jet fuel, which has properties similar to diesel.
“A lot will depend on how long Russia maintains the fuel export ban,” said Commonwealth Bank of Australia analyst Vivek Dhar.
It was noted that on Friday, September 22, the price of diesel fuel increased by 3.4% to $30.21 per barrel, but this price is significantly lower than the August peak of $34 per barrel (this is the highest since January).
“The direct impact will be mitigated by the fact that Russia will allow the export of fuel cargoes if they have been received for shipment on Russian railways or have loading documents for sea transport,” said of the report.
It was previously reported that Russia will limit exports of gasoline and diesel.
Let’s remember that a month ago, Russian regions began to complain about empty gas stations. This applies not only to AI-95 and AI-92 gasoline, where a historical record price increase has already been recorded, but also to diesel fuel.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.