Russia’s leader has tried to keep the daily lives of Russians insulated from the worst impacts of his expansionary campaign in order to minimize risks to political stability.
But with all resources at their disposal directed at maintaining the war effort, wholesale prices for the two fuels have reached record levels in recent months, according to state news agency TASS.
Agriculture Minister Dmitry Patrushev earlier this month proposed temporarily banning fuel product exports to avoid a “catastrophe” this harvest season, according to the Moscow Times.
“Temporary restrictions will help saturate the fuel market, which in turn will reduce prices for consumers,” the government added.
On Thursday, European wholesale diesel gained 5% to trade back above $1,000 a metric ton, according to Bloomberg News.
“On a global scale, world prices for diesel fuel are already at elevated levels due to rising oil prices and a lack of refining capacity.
Together with Saudi Arabia, Russia has unilaterally cut oil production recently in a bid to underpin global prices for a barrel of crude. »
