Russia expects more pricey Indian gasoline to ease shortages
Vladimir Putin (Photo: REUTERS/Ramil Sitdikov)
At least two more shipments of gasoline
from India are expected to arrive at Russian ports over the next two weeks as
Moscow hopes to ease a domestic fuel shortage, Reuters reported
on Aug. 17, citing industry sources.
At least one Indian cargo has already reached Russia.
“An Oman-flagged tanker loaded about 68,000 metric tons of gasoline at the Port Said anchorage in a ship-to-ship transfer from the tanker Agni, which had been loaded at India's Vadinar port, the sources said,” Reuters wrote.
“The tanker discharged the cargo at Russia's Arctic port of Vitino in early August, shipping data showed. The gasoline is being transshipped at the port for delivery to domestic buyers by rail, and shipments have already begun, the sources added.”
Reuters’ sources said the gasoline is being transshipped at port for rail delivery to domestic buyers. Traders sold the fuel, produced by India’s Nayara Energy, which is 49% owned by Russia’s Rosneft, to Russian buyers.
Reuters also reported that the first gasoline shipment bought to cover the shortfall caused by Ukrainian strikes has not reached retail chains or the wholesale market. The fuel became stuck in the port of Murmansk and has remained on tankers because Russian oil companies have been unable to agree on a sale price.
Importers have offered to sell the Indian gasoline at roughly
$1,770 per ton, or $1.31 per liter. That is roughly double wholesale prices on
the St. Petersburg Mercantile Exchange, where, as of Aug. 13, AI‑92
gasoline traded at about $920 per ton.
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