14 Jun 2023 13:33

Volume of primary oil refining in Russia has risen 4.6% YTD - energy minister

UST-LUGA. June 14 (Interfax) - The volume of primary oil refining in Russia has risen 4.6% since the beginning of the year, Energy Minister Nikolai Shulginov told reporters.

"The situation in oil refining is currently normal, calm; and primary refining has grown 4.6% since the beginning of the year; there are no problems," Shulginov said.

As reported, exchange prices for AI-95 gasoline have set another record to date, and exchange prices for AI-92 gasoline have approached all-time highs. Gasoline prices on the St. Petersburg International Mercantile Exchange (SPIMEX) have surged over 20% since mid-April.

The rise in gasoline prices on the exchange is happening amid ongoing repairs at domestic refineries, growth in retail demand owing to the onset of the high driving season, as well as plans to adjust the damper, which was expected this summer, but was postponed until September, Interfax sources said. According to the sources, the amendment to the mechanism parameters has been delayed, and, from a procedural point of view, the agencies do not have time to agree and submit the bill to the State Duma in order for it to come into force on July 1, as planned.