On Friday, November 17th, Russian Government lifted the temporary ban on the export of motor gasoline from the country, reports Interfax. Earlier, on September 21, the government decided to ban the export of petroleum products. The Cabinet of Ministers acted as part of the implementation of a set of measures to stabilize the price situation on the domestic motor fuel market.
“Over the past two months, while maintaining high volumes of oil refining at the plant, saturation of the domestic market was ensured and a surplus was created in the supply of motor gasoline, including in the exchange sales channel. As a result, since the beginning of the year, due to the export ban, wholesale exchange prices for motor gasoline have decreased significantly. The reserves of motor gasoline amount to about 2 million tons,” the Ministry of Energy said in a statement on this matter.
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