Ministry of Energy expects fuel market to meet domestic demand in winter

MOSCOW, 7 Oct — PRIME. The fuel market of Russia will be balanced next winter and will be able to satisfy domestic demand: refineries are prepared for the season and are ready to increase the production of winter diesel fuel, the Ministry of Energy of the Russian Federation told reporters.

According to the Ministry of Energy, the demand for winter diesel fuel this year will remain at the level of the previous year, that is, in total it is about 20 million tons, while about 90% of all produced will continue to be supplied to the domestic market, as before.

“In the coming autumn-winter period, the Russian fuel market will remain balanced, satisfying all the emerging demand in the domestic market, including for winter diesel,” the ministry commented, adding that retail price growth will not exceed inflation.

“Russian refineries are well prepared for the winter season – most of the refinery upgrades have been completed, including those aimed at increasing the production of winter grades of diesel fuel,” the Ministry of Energy added. Meanwhile, on October 3, winter diesel fuel opened trading on the stock exchange in the autumn season with its maximum value – almost 69 thousand rubles per ton, although after that the price began to gradually decline.

“In the wholesale market, the change in the price trend is caused, we emphasize, precisely by seasonal factors – the cooling that began a little earlier than in previous years in most of the country, which in turn accelerated the transition of fuel traders and consumers from summer grades of diesel fuel to frost-resistant off-season and winter varieties that are purchased in reserve in anticipation of an increase in demand,” the Ministry of Energy explained.

According to the ministry, companies in the fuel and energy complex are gradually increasing trading volumes on the stock exchange, completing refinery repairs, deliveries to the domestic market continue to be stimulated by a damping mechanism, and the Ministry of Energy itself, within the framework of fuel staffs, recommends that manufacturers continue to increase production and sales of winter varieties on the domestic market. diesel fuel.