The Russian Ministry of Energy is discussing with SPIMEX the introduction of maximum prices increases for diesel of 0,01% and to limit the amount of bids buyers can make per day. On September 22nd diesel went up 1,92% to 71,7 rubles and 14% since September 9th.

The current trade of wholesale gasoline on SPIMEX is already limited to a maximum increase of 0,5% and a decrease of up to 20% but limiting it to 0,01%. Already the exchange trade is disconnected from depot sales but this will make it much worse.

As a temporary measure it might calm the market and limit panic buyers but what it is signaling is a possible upcoming ban of the export of diesel fuel. The limit according to experts will not help given the current supply shortage.

On September 19th 51 200 tons of diesel were sold on the exchange in both railway and pipeline batches which is 2,6% lower than the previous day. For September 1-15th 4,96 million barrels of oil were refined in Russia per day and on the 16th 4,75 million.

Note from me, there are already diesel shortages and or rationing in 3 regions of Russia but if they stop exports that won't be an issue, the problem would be how to cover the million tons more they will have domestically build up in short while.

@delfoo Price control = black market. Uncontrollable inflation. Higher prices self controls to some degree the consumption. https://x.com/evgen1232007/sta...