Russian Oil Refining Hits 20-Year Low Due to Ukraine Attacks

In August 2026, Ukraine launched at least 21 strikes on Russian oil refineries, leading to a fuel shortage in Russia and gasoline rationing in various regions. The volume of oil refining amounted to just over 3.8 million barrels per day, significantly lower than the summer figures of 5.3 to 5.5 million barrels. Gasoline production decreased by nearly 20% year-on-year, while diesel fuel production fell by more than 23%. Domestic diesel supplies dropped by 3% due to the export ban. Over 50 million Russian drivers felt the impact of the fuel crisis, with shortages reported in dozens of regions. At independent gas stations, the price of gasoline exceeds 100 rubles per liter, while at major company stations, it is below 80 rubles. It is forecasted that in September, refining volumes may slightly increase to 4.2 million barrels per day, but the risks of decline remain high. The Russian government has extended the ban on the export of most types of gasoline until the end of January 2027 and is discussing the possibility of extending the ban on diesel fuel exports.

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