... Americans certainly do not offer discounts on their oil. The fact that India sometimes increases, then reduces its purchases of American oil can be explained by seasonal factors. "Currently, India is trying to boost petroleum production because the automotive season is beginning in the Northern Hemisphere. Delhi wants to meet the rising demand with additional petroleum supplies – and thus earn more. Therefore, in spring it traditionally starts buying more American oil, but in autumn it generally ...

... and Pskov regions. Manual Control Last year, the Russian government also fought against rising prices. Beginning March 1, an export ban was implemented, which was then lifted from May 20 to June 30 "considering the saturation of the domestic automotive fuel market," and subsequently, permission for gasoline exports was extended for another month—until the end of July. However, in August, the embargo was reinstated until the end of December "to maintain a stable situation in ...

... production. This explains Rosstat's decision to stop publishing data on gasoline production and the faster price growth of gasoline compared to diesel. Other contributing factors include the seasonal increase in fuel demand and the recovery of the automotive market. According to Avtostat, sales of new passenger cars in Russia rose by 79% in the first half of 2024 compared to the same period in 2023, reaching 719,300 units—approaching the pre-crisis levels of the first half of 2021 (793,400 units)....

... shipments, but it is unlikely to reflect a tangible decline in supplies in such a short timeframe. In 2024, Novokuybishevsk refinery produced around 1.1 million tons of gasoline, while Ryazan refinery produced 2.2 million tons. Russia produces more automotive fuel of all varieties than it consumes. Gasoline production in Russia is between 41-44 million tons per year, nearly matching the internal consumption requirements. Therefore, short-term price fluctuations may be natural, especially during ...

... Other Precious Metals The second largest import category was precious metals, primarily palladium. In 2024, $878 million worth of metals were imported from Russia (about 30% of the total import volume). Palladium and platinum are mainly used in the automotive industry: they are utilized in catalytic converters for reducing emissions in internal combustion and hybrid vehicles. Russia has historically been one of the largest suppliers of palladium to the global market, so even after sanctions were ...