The Russian government has decided to ban the export of gasoline from Russia as of April 1. Deputy Prime Minister Alexander Novak assigned the Ministry of Energy to prepare a similar government decision.
The Cabinet Press Service said that the authorities took this step to stabilize gasoline prices and ensure priority supply to the local market.
experts, Respondents Kommersant believes that the export ban can only slow down the rise in prices, but they will not fall seriously.
Russia’s exports are limited after Ukraine struck the port of Ust Luga in the Leningrad region on March 25, an industry source at Kommersant told Kommersant. According to him, for this reason the level of oil refining and production may decline in the near future. Reuters I mentionedSources said that Russian oil workers warned buyers that they may declare force majeure due to attacks on Baltic ports.
Gasoline prices rose against the backdrop of the American and Israeli war with Iran and the actual closure of the Strait of Hormuz, through which 20% of the world’s oil passes. Because of the war, Brent crude prices rose above $100 per barrel on March 9. At the peak of trading, the price of oil rose to $126, but prices then stabilized at $110. At the same time, the US administration studied what the economy would face if the price of oil rose to $200 a barrel, Bloomberg wrote on March 25.