Russia has new plans for oil and gas exports

The Russian government is considering a ban on gasoline exports to prevent fuel shortages in the country, government and industry sources said on May 23.

Russian government considers ban on oil exports. (Source: India Post English)

The measure is also expected to help curb price increases after Russia's Finance Ministry decided to reduce fuel subsidies for refineries.

The government may increase the minimum volume required to sell gasoline on the commodity exchange, sources said.

In addition, the Russian Finance Ministry plans to halve subsidies for oil refineries from July 2023 to supplement the state treasury.

Previously, Chairman of the Russian Independent Fuel Union Grigory Bazhenov informed that retail gasoline prices in Russia will increase slightly, despite the high price of A-95 gasoline on the exchange.

“Throughout 2022 and the first half of 2023, there are no prerequisites for increasing gasoline prices,” Bazhenov noted.

The price of A-95 gasoline at the previous auction rose to its highest level since 2021, surpassing 60,608 rubles (756.08 USD) per ton, up 1.72% from the previous price. The price of A-92 gasoline reached 52,280 rubles (652.19 USD) per ton, up 1.91%.

Source: https://baoquocte.vn/nga-co-du-dinh-moi-ve-xuat-khau-xang-dau-228316.html