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Russia Is Ready to Ban Gasoline Exports If Record Prices Persist

  • The process of banning gasoline exports could start next week
  • Premium gasoline price exceeded 60,000 rubles/ton on Spimex

Russia is ready to introduce a ban on gasoline exports as soon as next week amid record-high wholesale prices on the exchange.

On Thursday the price for a tonne of 95-octane gasoline exceeded 60,000 rubles for the first time in the history of the St. Petersburg International Mercantile Exchange. If this persists, Russia “will start the process of banning gasoline exports” next week, Energy Minister Nikolay Shulginov said in a statement.