Russia plans to ban the export of gasoline for six months from March 1

In order to stabilize demand growth in spring and summer, the Russian government plans to introduce a six-month temporary ban on gasoline exports from March 1.

The Council of Ministers of the Russian Federation has decided to introduce a temporary restriction on the export of gasoline for a period of six months from March 1, 2024, in order to stabilize the increase in demand during the summer vacation and field work, as well as during the planned repair of the oil refinery. The restriction does not apply to EOII countries, as well as South Ossetia, Abkhazia, Mongolia and Uzbekistan.

The Deputy Prime Minister of Russia, Alexander Novak, has mentioned as another measure to increase the standard of selling diesel fuel on the stock exchange up to 16%. A ban on the export of gasoline was introduced in the country from September 21 to November 17, 2023 "in order to stabilize the price situation in the domestic market of automobile fuel." The decision to lift the ban came after the domestic market was saturated with fuel and there was a supply surplus.

The Ministry of Energy of the Russian Federation did not rule out the cancellation of the ban on the export of gasoline if necessary.