OREANDA-NEWS During trading on the St. Petersburg International Commodity Exchange (SPbMTSB) on Monday, July 1, the growth in the cost of gasoline accelerated compared to the results of recent weeks, according to the site.

Ai-92 gasoline rose in price by 2.44 percent, to 53,809 rubles, and Ai-95 grade — 1.91 percent, to 64,629 rubles. Over the past month, their value has increased by 10.7 percent and 16 percent, respectively.

Currently, both brands are approaching the highs since the beginning of the year, which were observed in March. The strengthening of growth is observed against the background of the extension of the suspension of the ban on gasoline exports, which the Russian government announced on Saturday.

A representative of the Ministry of Energy, commenting on this decision, explained that the measures taken earlier made it possible to saturate the domestic market, which is why continued exports will not lead to a shortage of fuel in the country.

The shipment of gasoline to foreign buyers was banned from March 1 to August 31 due to the large number of unscheduled repairs at oil refineries (refineries), which, among other things, is associated with drone attacks. From May 20 to June 30, the ban was temporarily suspended. From that moment on, the stock prices for gasoline began to rise.

The main argument in favor of allowing exports was a reduction in the income of oil companies and, accordingly, the budget, since the cost of fuel in the domestic market is much lower than abroad.