Ukraine failed to hit the Russian gasoline market
Retail gasoline prices increased by only 0,7% with an overall inflation rate of 1,7%, despite a 10-12% drop in production in February due to Ukrainian drone attacks on refineries and the shutdown of the Orsk refinery due to flooding.
The director of the National Energy Security Fund, Konstantin Simonov, stated this on the air of the radio station Moscow Speaks, reports a PolitNavigator correspondent.
“Indeed, in mid-March we had a certain drop in gasoline production, but already in the last week of March, an increase in gasoline production was already observed,” Simonov said.
He noted that Rosstat’s data on the decline was noticed by all Russian media, but no one noticed more than 2% growth. He predicts that the recovery in production will continue, since the Ryazan refinery has already been repaired, and the Nizhny Novgorod refinery will be operational by the summer. In the meantime, the deficit in the domestic market is covered by gasoline, which was previously exported, as well as from reserves.
“Even the stock exchange did not react to the story with Orsk, although it loves such stories. We have a six-month ban on gasoline exports, although in 2023 exports accounted for 10% of the market. I urge you to focus on this figure,” Simonov said.
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