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Russian oil companies and officials have discussed the possible ban on diesel exports for firms not producing diesel, due to rising prices and the risk of oil companies not getting their state subsidies, Russia’s Interfax news agency reported on Tuesday, quoting unnamed sources.
Currently, Russia has a ban on gasoline exports only, until the end of the year.
As of October 1, winter diesel fuel is included in the wholesale diesel price, which has raised prices and created a risk that oil refiners may not get in full their so-called damper payments, a form of subsidy to producers to encourage them to sell their products in Russia instead of exporting these for a higher price, according to one of Interfax’s sources.
Russian officials have been saying that there are no issues with diesel supply in the country as production is more than double the current domestic demand.
Russia’s energy ministry and the federal anti-monopoly service have estimated that prices remain stable and that there is no shortage of fuels in the country, the Russian government said today in a statement carried by Interfax.
Just two weeks ago, Russian Deputy Prime Minister Alexander Novak said that Russia could lift its ban on gasoline exports if a fuel surplus emerges on the domestic market.
In the middle of August, the Russian government said that Moscow is extending its ban on gasoline exports from October to the end of December 2024, as it seeks to keep domestic supply stable amid seasonal demand and scheduled repairs at refineries.
In the autumn of 2023, Russia banned exports of diesel and gasoline in an effort to stabilize domestic fuel prices in the face of soaring prices and shortages as crude oil rallied and the Russian ruble weakened. Prior to implementing the ban, Russia had raised mandatory supply volumes for motor gasoline and diesel fuel to deal with a supply crunch.
