Published February 29,2024
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Russia may carry its ban on gasoline exports early if the home market turns into saturated, Deputy Prime Minister Alexander Novak stated Wednesday.
The ban “is a step taken in advance. There is no supply deficit in the market at the moment,” Novak instructed reporters within the Iranian capital Tehran following conferences with officers.
“We will ensure the balance of supply and demand for the future,” he stated, including the scenario within the oil product market in Russia is steady.
Noting that the ban solely covers gasoline exports, Novak stated: “This measure will only apply to gasoline and will be applied for six months from March 1. During this period, another decision can be made if necessary. If the market is saturated, the ban can be lifted.”
Russian media reported Tuesday that the federal government determined to ban exports of gasoline from March 1 in an effort to maintain home costs steady amid elevated demand from shoppers and farmers and to permit native refineries to hold out upkeep.
Russia briefly imposed a gasoline export ban in September final yr to fight rising home gasoline costs, lifting it after two months.
Source: www.anews.com.tr