Belarus Has Almost 50 Times Increased Gasoline Supplies To Russia

Russian refineries are regularly attacked by Ukrainian drones.

Belarus has sharply increased gasoline supplies to the Russian market amid the emerging fuel crisis. In October, the volume of exchange trading in Belarusian fuel increased 47 times year-on-year - up to 36,480 tons, a representative of the St. Petersburg International Mercantile Exchange told Vedomosti. In November, the growth of supplies continued: 21,720 tons of Belarusian gasoline were sold on the exchange for the first 19 days of the month, which is 7 times more than in the same period last year. At the same time, a similar growth in sales of Belarusian diesel fuel has not yet been observed on the exchange. In October, the volume of trading fell by 27% year-on-year - to 27,360 tons, while from November 1 to November 19, supplies increased by 21% - to 23,820 tons.

In the last month, prices of petroleum products on the St. Petersburg Stock Exchange began to decline. From October 24 to November 25, the price of Ai-92 gasoline fell by 19% - to 60,049 rubles per ton, Ai-95 fell by 9% - to 79,645 rubles, and the price of diesel fuel fell by 11% - to 57,606 rubles. Prior to that, the cost of fuel rose to historic highs amid Ukrainian drone strikes on oil refineries (refineries) and high demand. According to Reuters sources familiar with closed industry statistics, in August-October after a series of drone attacks, oil refining in Russia fell by 6% in August-October compared to July and by the same amount in annual terms.

To saturate the domestic fuel market, the government has banned the export of gasoline and diesel fuel from the country until the end of 2025. The authorities also opened imports of gasoline from Belarus, China, South Korea and Singapore.

The Mozyr and Novopolotsk refineries produce gasoline in Belarus. Before the introduction of EU sanctions in 2020, the country's gasoline output was 3.2 million tons, of which 1.3 million tons companies shipped to the Belarusian market, and 1.8 million - for export, says the general director of Open Oil Market Sergei Tereshkin. Based on these data, Belarus can supply about 150 thousand tons of gasoline to Russia every month, the expert added.

The current volume of supplies of Belarusian fuel is not so significant against the background of the total volume of gasoline consumption in Russia, but they are important to stabilize the market in the conditions of falling out of some production volumes, concluded managing partner of Neft Research Sergei Frolov.

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