Russia’s Energy Ministry is weighing tighter rules for diesel fuel trading on the St. Petersburg Exchange, Kommersant reported, citing sources with knowledge of the matter.
According to the sources, officials may lower the daily price growth cap for rail and pipeline deliveries from 0.5 percent to 0.01 percent, and could also restrict how much a single trader is allowed to buy.
One source said the measures could be introduced in the near future. On September 8, the St. Petersburg Exchange had already imposed limits on price increases and capped the number of purchase orders for gasoline.
The move comes amid record diesel prices. Since September 9, diesel quotes have climbed more than 14 percent, reaching 71,700 rubles ($855) per ton. Market participants and analysts told Kommersant the surge was driven by “unscheduled shutdowns” at refineries and increased demand spurred by unusually warm September weather.
Traders said wholesale diesel prices are already restricted. They believe the new measures could help cool the market but would not resolve the underlying shortage. The situation is expected to stabilize once “unscheduled repairs” at several refineries are completed at the end of September.
Experts interviewed by Kommersant said the proposed rules are more of a signal that regulators are prepared to take tougher steps, including limiting exports, especially for companies that do not produce fuel themselves. At the same time, they noted that a ban on diesel exports would cause significant losses for both the state budget and oil companies.
In recent months, Ukrainian drones have repeatedly struck Russian refineries, forcing plants to partially or fully suspend operations. The attacks have contributed to fuel shortages and driven up prices.
Russia has already imposed curbs on gasoline exports. A ban was introduced in February for retailers and extended in July to producers. Under the latest government order, direct producers will be allowed to resume exports on October 1, while traders without their own production facilities will regain that right on November 1.
