Full recovery in gasoline demand in July will not happen, according to the energy Ministry, it will be less than last year by 5%. But officials don’t want to remove the restrictions on the import of fuel and expect the oil companies continue production growth in July, it is expected to reach 3.5 million tonnes, even higher than last year. Meanwhile, against the backdrop of demand growth of gasoline prices in the opt continue to set records.The energy Ministry expects gasoline demand in July will be 5% less than last year’s values, said at the online conference Argus, the head of refining Department Anton Rubtsov. Thus, according to the presentations of the energy Ministry, oil companies will increase production by 500 thousand tons to 3.55 million tons, 100 thousand higher than a year earlier.Officials began to make oil companies increase production after wholesale gasoline prices in June reached all-time highs amid a sharp recovery in demand after the release of the majority of Russian regions from quarantine. Until that moment, several large refineries were on preventive maintenance, which partly had to do with falling demand due to quarantine: for example, in April the demand was below normal at 40%. “We are now seeing the recovery of production, and in General, the current crisis in the moment we pass well enough. I won’t plan ahead that there will be in the fall, there are different predictions on this score, but while we understand that processing is ready,” assured Mr. Scars.In addition, in June, entered into force a ban on the import of fuel, which is valid until 1 Oct. This measure was intended to support Russian manufacturers, the demand for products which on the background of the coronavirus fell a few months, and not to allow redirection to the premium Russian market of fuel from other countries, primarily from Belarus.FAS has already proposed to lift the moratorium on import ahead of time, but energy is not ready for it to go. “If there is no introduction about the repetition of the situation of some quarantine measures, this temporary measure will be repealed either in time or ahead of schedule,”— said Anton Rubtsov. In his opinion, the full recovery of the demand to lift the ban on the import of “probably wrong.”According to Rosstat, in January-may consumer prices for gasoline on average across the country increased by 0.2% (in may, growth was not observed at all). However, over the three weeks of June prices increased by 0.6%, partly reflecting the rise in wholesale prices. At the same time, while the dynamics of fuel prices lagging behind inflation: the cumulative inflation for June 22 was 2.6%, annual — 3,16%.Dmitry Kozlov
