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Russia May Lift Ban on Gasoline Exports

by Krystal

Russia’s energy ministry has suggested that it may lift the current gasoline export ban, which is set to remain in place until the end of the year. The possibility comes as domestic fuel prices stay stable, according to Russian Energy Minister Sergey Tsivilyov.

Tsivilyov told reporters on Wednesday that, given the stability of fuel prices and the overall fuel market in Russia, the ban could be lifted sooner than expected. His comments were reported by the Russian news agency Interfax.

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In mid-August, the Russian government announced an extension of the gasoline export ban, originally planned to end in October, until December 2024. The decision was made to ensure a stable domestic fuel supply during seasonal demand spikes and scheduled refinery maintenance.

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Russia first imposed the ban on diesel and gasoline exports in the autumn of 2023. The move came in response to soaring fuel prices and shortages caused by rising crude oil prices and a weakening ruble. Before the ban, Russia had increased its mandatory fuel supply volumes to address the growing supply shortfall.

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Tsivilyov stated that, with the domestic market now stable, there is no need for continued export restrictions. “Everything is stable with prices, the situation on the market is stable, so restrictions can be lifted,” he explained. “The ban was introduced to stabilize prices on the domestic market.”

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Russian Deputy Prime Minister Alexander Novak added in late September that the export ban could be lifted if there is a surplus of gasoline in the domestic market. He pointed out that exports are permitted when a surplus exists, citing diesel exports as an example. “For example, we do not have a ban on exporting diesel fuel because there is a surplus, and it is sold both domestically and abroad,” Novak said.

Currently, the government is not concerned about fuel shortages. The domestic market has sufficient petroleum products, and prices at gas stations remain stable, according to the country’s top oil official.

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