MOSCOW, January 14. /TASS/. Gasoline exchange prices are on the rise during the first trading week of the year because of higher fuel procurement on account of the past New Year holidays, the Russian Energy Ministry told reporters.
“The price hike on the exchange recorded during the first trading days is driven by higher fuel procurements by market players on account of the past period of New Year holidays and the last week of December, when the exchange did not work,” the Ministry said.
According to the Ministry, average daily sales on the exchange from the start of January stand at 41,300 tonnes of motor gasoline, which is 14% above the level in January 2019 and 46% higher than the level in January 2021. Macroeconomic factors of the global market also influence on the exchange price rally, the Ministry added.
“The Russian Ministry of Energy continues daily monitoring of the situation on the domestic petroleum products market and takes note of the high level of production, shipments and inventories of motor gasoline early this year,” the Ministry said.
Average daily motor gasoline production is 108,800 tonnes from the start of January, being 1.5% above the figure in January 2019 and 10.2% above the level of last January.
