HomeEconomyRussia will ban fuel...

Russia will ban fuel exports for two months

Photo: Getty Images (pictured)

A sharp increase in wholesale prices for fuel on the Russian stock exchange in June and July eroded the margins of retail operators, making their work unprofitable.

The Russian government has decided to ban the export of motor fuel in September and October, noted the First Deputy Minister of Energy of the Russian Federation, Pavel Sorokin. The Moscow Times writes about it on Wednesday, July 31.

It was noted that the ban on the export of diesel fuel is not yet necessary, however, the Russian authorities will work to limit the exports of companies that do not produce this type of fuel.

Sorokin explained the “principle decision” to limit exports through “insurance.”

A sharp increase in wholesale prices for fuel on the Russian stock exchange in June and July eroded the margins of retail operators, making their work unprofitable. At the end of July, there was a price drop in the wholesale sector against the background of the authorities’ plans to renew the ban on fuel exports from August.

At the same time, Sorokin assured Russians that the amount of fuel reserves in the Russian Federation is 1% higher than last year. Fuel exports from the Russian Federation in July decreased by 33%.

We wrote that the Russian government is returning the ban on the export of gasoline from the country, because prices on the wholesale market have increased by tens of percent since the beginning of the year, and a shortage of the AI-95 brand appeared.

Let’s recall that after a series of Ukrainian attacks on the largest Russian refineries, the volume of oil refining in June fell to a two-year low. Gasoline production decreased by 20% from the end of December 2023 to the end of May 2024, and diesel fuel production by 11%.

Since June, the Russian Ministry of Energy has stopped publishing weekly operational data on fuel production, citing the “geopolitical situation” and the need to protect the market from “manipulation.”

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

In Latka, the skeleton of the bend and posts (photographs) was struck

As a result of the Russian attack, the number of death in Latsk increased. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } Rescuers owed the body of a 27-year-old dead...

James Gunn confirms post-credit scene in ‘Superman’

With the next launch, the new creative director of the DC universe, James Gunn, confirms that 'Superman' will have scenes you creditsThe premiere of the new Steel Man movie is getting closer and closer and with it news is being released by the producers. 'Superman' will be...

Blackpink’s Jennie joins the list of ‘best albums of 2025, so far’

Blackpink member Jennie enters the list of 'best albums of 2025, so far' pleasing criticism; look!DIVA! With great influence on the music industry, Rolling Stone magazine shares annually in early June the 66 albums considered by its critics the best of the year so far. Including all...

5 Pixar movies that everyone needs to watch

In addition to Toy Story, who was the studio's first long -term movie; Check out 5 more Pixar animations that everyone needs to watch!How many Pixar movies have you watched? The studio, which emerged independently on February 3, 1986 launching only short films, took an important step...

What films make up the age of Disney’s Renaissance?

Find out what are the films responsible for composing one of the most loved eras by fans of Disney productions: the RenaissanceWith over 100 years of history, Disney is one of the main companies of world entertainment. Over the course of a century, the studio was responsible...