A sharp rise of more than 15 % in demand for petrol was reported in October along with an increase of nearly 30 % in diesel fuel.

    The increase in supplies was a result of the post-Covid recovery of the Russian economy. In the first quarter of 2021, the rate of fall in GDP slowed to 0.7 % (compared to 3 % at the end of 2020). Real growth followed – 10.5 % in the second quarter and 4.3 % in the third quarter, according to Rosstata figures.

    The transport sector has also seen a recovery.  Over the first nine months of 2021, total cargo of road transport increased year-on-year by 5 % and the number of bus passengers by 11.3 %

    The taxi market has also contributed to the rise in demand for petrol. In the third quarter of 2021, the number of trips recorded by Yandex Taxi service soared by 44 % year-on-year and income from all Yandex transport services rose in the same period by 61 % ( to 156 billion roubles, according to a press statement by the company, or $2.12 billion) .

    Increased demand within the country led to reductions in supplies shipped abroad: In the period from January to October 2021, petrol exports declined by 29.9 % to 3.1 million tonnes, diesel exports dipped 3.9 % to 33.7 million tonnes, figures quoted by the Central Distribution Authority of the Fuel and Energy Complex .