Russia may ban high octane gasoline exports

Russia’s Energy Ministry is looking at the possibility of a temporary ban on the export of high octane gasoline, in an effort to deal with the country’s fuel shortage. The ministry in a statement reported that, “The situation with regard to gasoline and diesel fuel is under control.” However, Energy Minister Sergei Kudgyashov said that oil companies will halt exports of oil products in May in connection with high octane gasoline. Supplies of high octane gasoline are currently low in Russia. The ministry reports that the country has enough stocks of fuel to last up to three weeks depending on the region. (April 28, 2011)