Putin Urges Faster Government Action as Rising Fuel Prices Hit Russia

Russian President Putin urged the government to respond faster to rising fuel prices, as wholesale petrol prices kept rising despite an export ban.
Russia banned petrol and diesel exports last week to stabilize the domestic market amid reports of shortages.
Putin asked the government to work closely with oil companies to lower prices.
Fuel prices rose as the ruble weakened, global oil prices increased, and refinery repairs limited supplies.
Farmers couldn't harvest crops in some regions due to a lack of fuel for farm machinery.

themoscowtimes.com

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Oil Prices Rise on Supply Concerns After Russia Bans Fuel Exports

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Posted 9/27/2023, 2:44:26 PM

Putin Urges Faster Government Action as Rising Fuel Prices Hit Russia

Russian President Putin urged the government to respond faster to rising fuel prices, as wholesale petrol prices kept rising despite an export ban.
Russia banned petrol and diesel exports last week to stabilize the domestic market amid reports of shortages.
Putin asked the government to work closely with oil companies to lower prices.
Fuel prices rose as the ruble weakened, global oil prices increased, and refinery repairs limited supplies.
Farmers couldn't harvest crops in some regions due to a lack of fuel for farm machinery.

themoscowtimes.com

Relevant topic timeline:

8/22/2023

Putin says Russia faces big economic challenges, must keep inflation in check

9/9/2023

OPEC+ Supply Cuts Drive Oil Prices Higher, Risk Stoking Inflation Despite Fragile Demand

9/19/2023

Saudi Minister Defends Oil Cuts as Prices Rise, But Tensions With IEA Remain Over Supply Outlook

9/22/2023

Oil Prices Rise on Supply Concerns After Russia Bans Fuel Exports

The recent global supply concerns caused by Russia's fuel export ban are driving up oil prices, counteracting the demand fears driven by macroeconomic headwinds and high interest rates.

9/25/2023

Oil Prices Near $100 as Russia Benefits From Production Cuts Despite Sanctions

Higher oil prices, boosted by supply cuts from Saudi Arabia and Russia, may benefit Russia's oil revenues by allowing them to sell crude over the $60-a-barrel price cap imposed by sanctions.

9/25/2023

Russia Skirts Oil Price Cap Despite Loss of Western Insurance

10/12/2023

Biden Raises Costs on Russia's Attempts to Evade Oil Price Cap