The collective West, represented by the United States and its allies, will establish two price ceiling for Russian oil products. So, according to the US Treasury, the cost will depend on the classification of the fuel.
We are talking about the division of Russian oil products into two price segments. For example, gasoline and fuel are going to be “driven” into prices up to $100 per barrel, and fuel oil, which is traded at a discount against crude black gold, at $45.
“For petroleum products, we have set two price levels: one for petroleum products that trade at a higher price than crude oil, such as diesel or gasoline, and the other for petroleum products that trade at a discount to crude oil, such as fuel oil.” , says the US Treasury document.
The price ceiling for seaborne Russian crude oil and products derived from it will come into force on 5 February.
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