Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, commented to the Kommersant newspaper on the decline in wholesale prices for diesel fuel in Russia.
The demand for diesel fuel in Russia is seasonal, in winter in Central Russia, in the Urals and in Siberia, consumption is noticeably falling, and exports are growing, Sergey Kondratiev notes. During the winter months, up to 60-70% (2.5–2.7 million tons) of all summer diesel fuel produced is exported, the bulk (over 80%) to EU countries. Now buyers from the EU are preparing to impose sanctions on the import of petroleum products from Russia and have probably already begun to reduce purchases, which led to an increase in domestic supply and pressure on stock prices, the expert believes.
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