Russia extended its ban on gasoline exports from October until the end of 2024 to maintain stable domestic supply during seasonal demand and planned refinery repairs, as announced by the Russian government on Wednesday.
In the fall of 2023, Russia imposed a ban on diesel and gasoline exports to stabilize domestic fuel prices against the backdrop of rising prices and shortages, exacerbated by a surge in crude oil prices and a weakening Russian ruble. Before the ban, Russia increased the mandatory supply volumes for motor gasoline and diesel fuel to address a supply shortfall.
This year, Russia reinstated a ban on gasoline exports starting March 1 but lifted it on May 20 as more refineries finished planned seasonal maintenance or emergency repairs following Ukrainian drone strikes in the winter and early spring.
Later in July, Moscow decided to extend the gasoline export ban from August through October to accommodate increased domestic demand during spring and summer.
“To prevent any issues during these months, the export ban on gasoline will not be lifted in August. It was also a crucial decision for September and October to limit exports to ensure coverage,” said Russian Deputy Energy Minister Pavel Sorokin, according to local news sources.
