The head of Russia's biggest oil company is warning that the world's second largest oil producing nation could soon face a fuel shortfall.
Rosneft's Igor Sechin predicts that Russia's gasoline shortage could reach 5 million tonnes a year by 2017. It produced around 38 million tonnes of gasoline in 2014, according to the energy ministry.
The expected shortfall is a result of many factors, including new tax rules, a weakening economy and Western sanctions that are hurting Russia's oil refining businesses. This is pushing fuel prices up, even as oil prices have plunged.