The Russian government has implemented a temporary ban on the export of diesel in an effort to stabilize domestic supplies, according to a statement on its press office website. The ban, also applicable to gasoline, will take effect on Thursday, September 21, and does not have a specified end date, as stated in the government decree signed by Prime Minister Mikhail Mishustin. The move comes as global fuel markets face increasing pressure.
In Nigeria, the price of diesel continues to rise. The National President of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), Benneth Korie, recently expressed concern about the frequent price hikes in diesel at depots across the country. This comes as the price of crude oil reached $94 per barrel and the Naira continues to weaken against the dollar, with an exchange rate of N980/$1 on Wednesday.
However, there may be a glimmer of hope on the horizon for Nigeria. The Dangote refinery, with a daily capacity of 650,000 barrels, has announced plans to commence production of diesel and other oil and gas products in October.
