The Russian government canceled a temporary ban on export of gasoline introduced on September 21 as part of a set of measures to stabilize the price situation in the domestic motor fuel market, the Ministry of Energy of the Russian Federation said.
“From the beginning of the ban on export, the excavation wholesale prices for automobile gasoline have decreased significantly. The stocks of automobile gasoline are about 2 million tons,” the message said, “the Russian department will say.
The Ministry of Energy noted that the winter period is traditionally characterized by reduced demand for automobile gasoline and the completion of the repair cycle at the refinery. “In order to prevent the unloading of oil refineries and ensure high levels of production of commodity gasoline, as well as taking into account the stabilization of the price situation in the domestic market, a decision was made to terminate the temporary ban on export of automobile gasoline,” the document said.