Prices for oil products in Russia to show downward correction – expert

Prices for oil products in Russia will show downward correction, Dmitry Grushevenko, Deputy Head of ERI RAS Center for Energy Market Studies, Leading Expert in the Energy Institute of the National Research University Higher School of Economics, told IAA PortNews.

“As for the internal market, it currently feature a number of prerequisites for improvement of the situation for consumes (not for oil companies). First of all, oil products that are not exported should be sold somewhere, primarily in the internal market, shipments eastwards are too expensive. If the km is overstock, the prices are to go down, anyway, which is already true for major oil products traded on exchanges. Secondly, there is a ‘political’ factor – amid the current concerns, prices will be kept relatively low to support businesses and the population. That is necessary to prevent the growth of fuel costs,” believes the expert.     
                               
Dmitry Grushevenko will also speak at the 15th All-Russian Forum "Current State and Prospects of Development of the Russian Bunkering Services Market" (23-24 June 2022, Saint-Petersburg).