Russian government restricts export of petrol, diesel

By Elena Teslova

MOSCOW (AA) - The Russian government on Thursday imposed a temporary restriction on the export of petrol and diesel in order to stabilize prices in the domestic market.

"Temporary restrictions on the export of car petrol and diesel fuel have been introduced in Russia. The decree was signed by the Prime Minister Mikhail Mishustin. The decision was made to stabilize fuel prices in the domestic market," the government's press service said in a statement on its website.

It said that the restrictions "will help to saturate the fuel market, which in turn will reduce prices for consumers."

Stock prices for petrol and diesel fuel in Russia hit record highs in recent months.

According to Deputy Prime Minister Alexandr Novak, prices are growing because of an increase in prices of petroleum products on world markets, and loss of ruble's value against the US dollar.