Skip to content

News with true faith

Economy

Russia fuel shortages to ease by October, Central Bank says

The Central Bank of Russia expects regional gasoline shortages across the country to become more predictable and normalize by late October.

Russia fuel shortages to ease by October, Central Bank says

Gasoline shortages across several Russian regions are expected to become more predictable and normalize by October, according to the Central Bank of Russia.

Kirill Tremasov, an adviser to the governor of the central bank, told news agency Interfax that fuel market conditions should stabilize as autumn progresses.

Tremasov explained that during peak summer months, the national fuel market faced intense pressure from frequent Ukrainian drone attacks on Russian oil refineries alongside high seasonal demand.



Those combined factors led to severe gasoline deficits in multiple regions. Fuel supply problems have been recorded across the country since mid-summer, when damage from strikes forced several major refineries to close for urgent repairs and sharply reduced shipments to the domestic market.

In response to the supply drop, filling stations in several affected areas began introducing sales restrictions for individual motorists.

Photo: Ramil Sitdikov / RIA Novosti

Causes of domestic fuel shortages

Ukraine has repeatedly targeted Russian energy infrastructure, including major petroleum refineries in western and central Russia, to disrupt fuel supplies during the ongoing conflict between the two nations. Russia is one of the world's largest crude oil producers, relying on dozens of domestic refineries to convert crude into petrol and diesel for internal transport networks.

Tremasov said domestic demand for fuel typically declines gradually toward the middle of autumn, which should assist in restoring equilibrium to the market. He added that by late October, when the central bank holds its core monetary policy meeting, the situation in the fuel market would become clearer.

Government measures and foreign imports

Russian authorities are attempting to resolve the ongoing deficit partly by boosting fuel imports from abroad. Government plans focus primarily on securing petrol shipments from neighboring Belarus and Kazakhstan, as well as from India.

Belarus and Kazakhstan are close trading partners of Russia and fellow members of regional economic unions, while India has become a major destination for Russian crude exports in recent years. However, fuel imports from these nations have not yet been sufficient to compensate for the lost production volumes from damaged domestic refineries.

The Central Bank of the Russian Federation, based in Moscow, serves as the nation's central monetary authority. Beyond managing monetary policy and interest rates, the regulator closely monitors domestic commodity supplies and economic stability across Russia's regional markets.

Interfax is a major news agency in Russia that frequently reports on official economic announcements. Industry experts cited in news reports warn that fuel supply problems in Russia are expected to persist over the coming months until domestic refinery output is fully restored.

Related

Leave a comment

Your email address will not be published. Required fields are marked *