Fuel Prices Plummet by over 10% as Russia Implements Temporary Export Ban: SPICE Exchange Update






Fuel Prices on SPICE Fall Following Export Ban

Introduction

Fuel prices on the St. Petersburg International Mercantile Exchange (SPICE) fell today, Friday, by more than 10% after a temporary ban on fuel exports from Russia came into force.

Price Decrease

The price of Octane 92 gasoline decreased by 9.63% to 55,925 rubles per ton, the price of Octane 95 gasoline decreased by 10.76% to 59,362 rubles per ton.

The price of diesel fuel fell by about 14.52% to 61,431 rubles per ton, according to data from the Russian Stock Exchange.

Government Restrictions

Yesterday, the press service of the Russian government reported that the government had introduced temporary restrictions on the export of gasoline and diesel fuel in order to achieve stability in the local market.

Source

Source: Prime


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