Russia Considers Temporary Gasoline Export Ban to Control Prices

Russia Weighs Gasoline Export Ban to Curb Price Fluctuations

Russia’s Federal Anti-Monopoly Service (FAS) is exploring a temporary one-month ban on gasoline exports by large producers to stabilize wholesale fuel prices before the critical crop-sowing season, state news agency TASS reported on Friday.

FAS deputy head Vitaly Korolyov stated that an export ban is one of several possible measures under consideration. While major oil companies currently have export rights, traders and resellers remain restricted from exporting gasoline—a rule first implemented in March 2023.

Korolyov noted that wholesale gasoline prices have been on the rise following a prolonged decline, calling it a market correction. However, he reassured that retail price increases have remained in line with inflation.

As an alternative to an export ban, he suggested creating a forward market to help balance seasonal demand. Meanwhile, Russia’s energy ministry confirmed that it continuously monitors fuel supplies and may intervene with an export restriction if necessary to ensure ample domestic availability.