27 Feb 2024 11:08

Russian govt to impose six-month ban on gasoline exports starting March 1, will increase standard for diesel fuel exchange sales to 16%

MOSCOW. Feb 27 (Interfax) - The Russian government plans to introduce a six-month ban on gasoline exports as of March 1, a representative of Russian Deputy Prime Minister Alexander Novak told Interfax.

The government also plans to increase the standard for diesel fuel sales on the exchange to 16%.

Interfax sources familiar with the situation said in mid-January that the government was considering a ban on the export of all commercial gasoline.

Exchange prices for gasoline have been on the rise since January 10, when the rumors first surfaced that one of the units at the Lukoil NORSI refinery was undergoing maintenance. The company only confirmed this on January 12, without specifying what type of unit it was or how long it would be out of commission. Later, the Energy Ministry reported that due to unscheduled repairs at one of the NORSI catalytic cracking units, there was a decrease in motor gasoline production.