... sources has notably strengthened Europe’s position as winter approaches. Russian Fuel Market: Export Ban and Price Stabilization The internal market for petroleum products in Russia has faced tension this summer due to a sharp increase in gasoline and diesel fuel prices. In July, exchange prices for automotive gasoline on the St. Petersburg International Commodity Exchange reached historical highs: the Ai-95 grade rose above 77,000 rubles/ton , breaking records and placing increased burdens on independent gas ...

... is always a balance between 'carrot and stick.' It's no coincidence that the latest export ban coincided with the Finance Ministry’s draft law on splitting the fuel damper mechanism. Currently, oil companies may lose damper payments if exchange prices for AI-92 gasoline or diesel fuel exceed the threshold set in the Tax Code. However, under the draft law, the damper would only be nullified for the specific type of fuel whose price exceeds the legally established maximum. This measure will support the profitability of ...

... rally in the fuel market," he noted. Commenting on the possible timeline for lifting the export ban on gasoline, Tereshkin suggested it could happen in November. "To achieve the lifting of the export ban, companies will need to keep retail prices in check over the next three months," he added. The ban on the export of Russian gasoline was reinstated on August 1. It is expected to remain in effect during September and October. Meanwhile, the export ban on diesel fuel, according to Pavel Sorokin, first deputy head of the Ministry of Energy, is not required. Translated using ChatGPT Sourse: https://1prime.ru/20240801/toplivo-850595067.html

... discount to Brent. Therefore, the 18th sanctions package will not be overly painful for the Russian fuel and energy complex," the expert concluded. REFERENCE: The current oil price ceiling has been in place since December 2022. In February 2023, a price cap of $100 per barrel was introduced for light oil products (diesel fuel, gasoline) and $45 per barrel for dark products (fuel oil). It was supposed that the functioning of the mechanism would be evaluated every two months, based on market conditions and that the ceiling would be set at a discount of -5% from ...

... again reported sufficient supply and noted that gasoline shipments to the domestic market were 5% higher than last year, while diesel shipments were 8% higher. According to Reuters, in the first half of 2024, Russian refineries reduced oil refining by 4% ... ... year, to 131.8 million tons. According to SPIMEX data, during the 2.5 months when the export ban was suspended, gasoline prices rose by 10-30%. This increase in wholesale prices also accelerated retail prices. According to Rosstat data, the price ...