Russia faces no domestic gasoline shortage with exports down
(Reuters) - Russia's energy ministry said it sees no shortage of gasoline in the domestic market, with companies having cut their exports and increased production after gradually completing planned maintenance work.
The ministry also said some refineries have not yet completed repairs, and oil companies are following government recommendations to systematically reduce exports.
As a result, in June, gasoline exports fell 30% from May. The ministry continues to recommend that companies adhere to the policy to curb exports.
"The situation on the Russian fuel market is under control," the ministry said in response to a Reuters query.
"The energy ministry together with the Federal Antimonopoly Service regularly monitors the situation and holds meetings with oil companies."
In June, exchange wholesale prices for gasoline at the St. Petersburg International Commodity Exchange (SPIMEX) set records due to supply shortages and high seasonal demand.
According to the ministry, as of the last week of June, the average daily production of gasoline in Russia was about 121,000 metric tons per day (1.01 million barrels per day), 3.1% higher than in June 2022.
Diesel fuel production at the end of June was 2% higher than in the same period last year, and stocks are at a historical high, the energy ministry added.
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