Russia's Gasoline Crisis: Government Proposes Boosting Domestic Supply
Russia is grappling with gasoline shortages and price hikes, particularly in Crimea and Sevastopol. The government is considering several proposals to boost domestic supply and ease the crisis.
Gasoline stations in Crimea and Sevastopol have seen a 50% drop since late July. To tackle this, the government is proposing to increase high-octane gasoline production by 50,000 tons monthly using monomethylaniline, a chemical banned in 2016. Additionally, they're considering scrapping 5% import tariffs on gasoline from China, South Korea, and Singapore, benefiting major companies like 'Rosneft', NNK JSC, and 'Promsyr'.
These moves aim to flood the domestic market with gasoline and diesel, as production has been declining and shortages persist in some regions. Gas prices have risen by an average of 8.4% since the start of the year. Meanwhile, Crimea has implemented fixed gasoline prices and purchase limits. If accepted, these proposals could direct at least 350,000 tons of gasoline and 100,000 tons of diesel to the domestic market monthly, with 150,000 tons of gasoline from Siberian refineries heading westward.
The government's proposals could significantly increase gasoline and diesel supplies, potentially easing the shortages and price hikes. However, no organizations have been explicitly named as allowed to import these products, and the export ban remains in place until the end of the year.
Read also:
- Xiaomi's YU7 SUV Challenges Tesla's Dominance with Impressive Pre-orders and Features
- Railway line in Bavaria threatened by unstable slope - extensive construction site at risk
- Wind Farm Controversy on the Boundary of Laois and Kilkenny
- Puerto Rico's Climate Lawfare Campaign experiences another setback with the dismissal of its deals.
