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21 November, Thursday

Ufa   °

Record fall of demand for gasoline is registered in Russia

Economy/Business

UFA, 22 October 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

Demand for gasoline began to decline again in 2019 after a slight increase in 2018 — this year it fell by one percent compared to last year. This figure is a record over the past few years, according to Izvestia.

In the research group, the weak demand for fuel is explained primarily by the decrease in consumer activity of Russians, that is, the drop in demand for fuel is caused by the fall in real incomes of Russians for the first half of the year, and not by high gasoline prices. Motorists tended to refuse from driving. Another reason for the decrease in gasoline consumption is the gradual transition of car owners to cheaper gas, experts said.

At the same time, the Ministry of Energy explained that they did not observe a severe reduction in gasoline shipments to the domestic market in 2019. The agency called the situation stable.

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