Sergey Kondratiev, Principal Director on Economic Studies at the Institute for Energy and Finance, commented on fuel prices to Kommersant FM.
Sergey Kondratiev believes that it will be possible to avoid price increases in the near future:
"Now it is a very good time to lift the ban, because gasoline production at Russian refineries has increased by almost 100 thousand tons or 15% in a month. The scheduled repairs completed. Oil prices are going down, and this affects the dynamics of the export alternative as well as the continued strengthening of the ruble, the stabilization of the exchange rate at fairly comfortable levels.
There is volatility in the market. But speaking globally, it is unlikely that in the next few weeks we will see a serious effect from this decision in terms of the impact on prices. More important will be what is happening on the global oil market, whether prices will continue to decline, and what will be the demand in export markets after the restoration of supplies."
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