21 May 2024 13:58

Russian govt monitoring fuel market, might extend suspension of gasoline export ban - ministry

MOSCOW. May 21 (Interfax) - The Russian government is monitoring the domestic fuel market and the suspension of the ban on gasoline exports might eventually be extended, the Energy Ministry said.

The export ban has achieved its goals, so the government decided to temporarily lift it, it said.

"The government is monitoring the provisioning of the domestic market. It remains the key priority, so in future the suspension of the ban might be extended," the ministry said.

"The domestic market is fully secured with supply and saturated with motor fuel. Processing volumes at oil refineries were restored, the general situation with oil product deliveries to consumers improved and the needs of the country's regions were fully met. Reserves built up at oil refineries and tank farms total about 2.1 million tonnes of automobile gasoline and 4 million tonnes of diesel fuel, which makes it possible to fully cover the needs of the domestic market," the ministry said.

The Russian government is suspending the temporary ban on gasoline exports for fuel producers until June 30, 2024. The relevant order has been signed. However, the export restrictions will remain in place in the period from July 1 to August 31, the government said earlier.