in an interview Radio Sputnik Economist Vladimir Rozhankovsky explained why gasoline in the abundant Russian market is not getting cheaper. Rozhankovsky explained that although there are many refineries in the country that fully supply gasoline to the domestic market, various factors, including sanctions, hinder the supply of this commodity to foreign markets.
As a result, there is an oversupply of gasoline in the Russian market, and accordingly, its prices should decrease.
But this does not happen, because it is not only affected by the ratio of supply and demand in the domestic market.
“Even though we are isolated from them due to sanctions, oil companies will still look to foreign markets. Still, they will “pull the arm” of the Department of Energy and show him those prices,” he said.
He pointed out that gasoline prices depend on the prices in the foreign market, but gasoline prices in rubles will not increase until now. Rozhankovsky made such a prediction.
It was reported that the Ministry of Finance also announced. wanted It prohibits the export of fuel from Russia to the domestic market. Recently, traders have started to actively buy fuel in the domestic market to send it later for export. If it is extremely unprofitable to do this in a normal situation, since consumption and VAT are included in the domestic price, after the introduction of many sanctions a surplus of fuel arose in the country and its price in the stock market fell. Despite high oil prices, experts said.
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.