Price Cap on Russian Oil May Lead to Higher Fuel Prices in Long Term: Ex-Regulator

Price Cap on Russian Oil May Lead to Higher Fuel Prices in Long Term: Ex-Regulator

WASHINGTON (Sputnik) – The West’s price cap on Russian oil may lead to a rise in fuel prices in a few years after supply dwindles and Moscow does not have enough revenue to support additional drilling, a former commissioner in the Texas Railroad Commission, the industry regulator in the top oil-producing state, told Sputnik.

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