Russian Gasoline Exports See a 40% Surge in 2023’s Early Stages

Gasoline exports from Russia have increased by about 40 percent since the beginning of the year and amounted to almost two million tons, the Kommersant newspaper writes, citing sources familiar with official data.

The newspaper notes that the data is 5% higher than last year’s figures, and this despite the current maritime embargo imposed by the European Union on energy supplies from Russia, and the price ceiling.

“Market participants have increased the export of gasoline by almost 40 percent over the past three and a half months compared to last year, to 1.8 million tons,” the report says.

The newspaper also stated that Russia, which was the main supplier of diesel fuel to Europe before the imposition of sanctions, reduced the export of this substance by 3% against the backdrop of increased shipments to the domestic market.

According to experts, gasoline supplies abroad are growing against the backdrop of a surplus of raw materials and high profitability of exports. The experts added that the sanctions have led to the spread of the practice of blending gasoline with naphtha, which allows such a product to be sold at the maximum price cap.

Source: Kommersant

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