Russian authorities optimizing refineries’ maintenance schedules to stabilize fuel market

MOSCOW, August 21. /TASS/. Russian authorities have set a goal to optimize maintenance schedules of oil refineries to minimize the risk of supply shortages in the fuel market, the cabinet reported following a meeting chaired by Deputy Prime Minister Alexander Novak.

"The need for an even distribution of available fuel supplies among and within the regions was emphasized. A task was set to optimize planned refinery maintenance schedules to minimize the risk of supply shortages in the market," the report said.

Participants of the meeting discussed the implementation of measures aimed at ensuring sufficient fuel supplies for the domestic market, maintaining fair prices, and increasing transparency in fuel sales across both wholesale and retail segments. "Emphasis was placed on the need for an equitable distribution of available fuel supplies among regions and within them," according to the report.

On July 30, the Russian government imposed a new temporary ban on the export of gasoline, diesel, and other types of fuel, effective until January 31, 2027. The decision was made to maintain stability in the domestic fuel market. The cabinet also suspended the special rules for determining prices in state procurement of motor fuel until the end of 2026. Moreover, the government adopted a resolution aimed at ensuring agricultural producers are supplied with the necessary volumes of motor fuel.

Deputy Prime Minister Alexander Novak told TASS earlier that Russia had secured sufficient fuel supplies to meet domestic market needs, but a surge in panic buying had driven up demand by around 20-30%, adding that government measures to stabilize the fuel market were yielding results as limits were already being lifted in several regions, with the number of operational filling stations increasing, and queues shortening.