3 weeks ago

Mongolia Faces Rising Fuel Prices Amid Russia’s Supply Crunch

Russia is having trouble supplying enough fuel.

Ukrainian drone attacks on oil refineries and strong seasonal demand contributed to the shortage.

Mongolia usually gets much of its gasoline and diesel from Russia.

Because fuel is harder to obtain, prices in Mongolia have increased.

A Mongolian official said prices reached nearly $1.50 to $2 per litre.

Mongolia is allowed to keep receiving Russian fuel under a special agreement.

Diesel shipments increased during the first seven months of the year, but jet-fuel shipments decreased.

Mongolia may also buy less Russian grain because it expects a larger harvest of its own.

Key facts

Mongolian fuel prices: Nearly $1.50-$2 per litre, compared with about $1 per litre in spring.
Russia’s export ban: Mongolia is exempt because of inter-governmental fuel-supply agreements.
Diesel exports: Russian diesel supplies to Mongolia rose 7% to 1.05 million metric tons from January through July.
Gasoline exports: Gasoline exports increased to 515,000 tons from 450,000 tons.
Jet-fuel supplies: Jet-fuel shipments fell 40% to 32,000 tonnes.
July motor-fuel exports: Exports to Mongolia declined to 173,000 tons in July from 186,400 tons in June.
Mongolian wheat purchases: Mongolia bought about 100,000 tons of Russian wheat last year but may reduce imports after an expected larger harvest.

theprint.in · 3 weeks ago