Russia Has Placed A Temporary Ban On Diesel Exports
According to Bloomberg, the Russian government disclosed this in a statement on its press office website.
“Temporary restrictions will help saturate the fuel market, which in turn will reduce consumer prices,” the statement said.
The ban, which also applies to gasoline, takes effect on Thursday, Sept. 21 and doesn’t have a final date, according to the government decree signed by Prime Minister Mikhail Mishustin.
The Russian government’s move is coming amid mounting pressure on already tight global fuel markets.
Meanwhile, the diesel price had continued to hit the rooftop in Nigeria.
DAILY POST recalls that Benneth Korie, the National President of the Natural Oil and Gas Suppliers Association of Nigeria, (NOGASA), had raised the alarm over incessant increases in AGO (diesel) prices at depots across the country.
The alarm came as the price of crude jumped to $94 per barrel, and the Naira has continued to depreciate against the dollar, exchanging at N980/$1 on Wednesday.
However, it appears that a respite is on the way in Nigeria as the 650,000 barrel-per-day Dangote refinery announced plans to kick-start production of diesel and other oil and gas products in October.
