Russia lifts ban on gasoline exports.

The Russian Energy Ministry announced that it has lifted restrictions on gasoline exports.

The reason given by the country is that maintaining high oil refining output over the past two months has ensured domestic supply and lowered wholesale prices. "Gasoline supplies are in surplus, including through the exchange," the Russian Ministry of Energy stated on November 17th. Currently, the country's gasoline reserves have increased to approximately 2 million tons.

Russia imposed a temporary ban on gasoline exports on September 21st to address domestic shortages that were driving up prices. At the time, only four countries – Belarus, Kazakhstan, Armenia, and Kyrgyzstan – were exempt.

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On October 6th, the Kremlin eased the ban, allowing diesel exports via pipeline, but kept gasoline exports prohibited. The sale of diesel and other fuels by truck and rail to foreign countries also remained banned at that time.

Diesel fuel is Russia's largest petroleum export, reaching approximately 35 million tons last year. Nearly three-quarters of that is transported via pipeline. Russia also exported 4.8 million tons of gasoline in 2022.

Lifting the ban could further complicate efforts to reduce Russia's oil and oil product exports by an additional 300,000 barrels per day until the end of the year, compared to the average for May-June. However, Russia confirmed it will continue its voluntary supply cuts until the end of December, as previously announced to OPEC+.

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Russia lifts ban on gasoline exports.

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