New York Drivers May Get More Russian Gas in Their Tanks
- Russian refiners receive tax breaks to produce cleaner fuels
- Europe’s stronghold of U.S. import market threatened by move
Photographer: Sergio Flores/Bloomberg
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President Donald Trump doesn’t like high oil prices. What would he think about the higher prices attracting Russian-made gasoline to the U.S. Atlantic shores?
East Coast drivers could be putting Russian gasoline into their fuel tanks without even knowing it. Already strong imports of blending components like naphtha will be paired with gasoline after refining tax breaks and investments give Russia surplus fuel to sell. Exports into Europe and the U.S. Atlantic basins will rise by 75,000 barrels a day, Energy Security Analysis, Inc. principal Andrew Reed says in a research note.