Russian petroleum authority fears rising oil prices

Yevgeny Arkusha, President of the Russian Fuel Union, said that petroleum prices had increased by 20% in July. He noted that refinery owners planned to request Vice Prime Minister Arkady Dvorkovich to ban exports of petroleum, Vedomosti reports.

The official said that there had been enough petroleum on July 24 for 10 days. Sergey Pikin, head of the Energy Development Fund, said that the prices were growing on the world market, so Russian consumers will have minimal impact.

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