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Russia 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, the Russian government said on Wednesday.
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.
These bans lasted only a few weeks.
This year, Russia reinstated a ban on gasoline shipments from March 1 but lifted the restriction on May 20 as more refineries completed planned seasonal maintenance or emergency repairs after Ukrainian drone hits in the winter and early spring.
In terms of gasoline exports, the ban will be renewed on August 1, Russian Deputy Prime Minister Alexander Novak said last month.
“We have the embargo approved until September 1. An exception has been currently made for the month of July. The exception ends from August 1. The tacit ban on exports of petroleum products and gasoline will be restored. In other words, the ban will be reenacted from August 1,” Russian news agency TASS quoted Novak as saying.
Then at the end of July, Moscow announced it would extend its ban on gasoline exports from August to October, to meet the growth in domestic demand in the spring and summer.
“In order to avoid any problems in these months, there will be no lifting of the (gasoline) export ban in August. It was also a fundamental decision for September-October that exports will be limited in order to be insured,” Russian Deputy Energy Minister Pavel Sorokin was quoted by the TASS news agency as saying.
