Russian government limits petrol and diesel exports due to record prices
The Russian government has introduced temporary restrictions on the export of petrol and diesel fuel for vehicles to stabilise fuel prices in the domestic market.
Source: The Russian Government on Telegram
Quote: "Temporary restrictions will help saturate the fuel market, which will lower prices for consumers," the Cabinet of Ministers of the Russian Federation explained.
Previously, the Russian government increased the standards for the supply of petrol and diesel to the exchange to stabilise the situation in the fuel market. They also introduced daily monitoring of fuel purchases for the needs of agricultural producers, with operational adjustment of volumes.
Background:
- It was previously reported that the Russian government is ready to take drastic measures on the fuel market due to a record increase in wholesale prices.
- Russian petrol stations have been experiencing losses for the third month due to rising fuel prices.
- Before that, for the first time in the history of Russia, the exchange price of AI-95 petrol rose above RUB 76,000 (approx. US$790) per tonne.
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