According to Rosstat, last year saw the lowest price increase in 20 years, even lower than during the 2020 pandemic. Retail gasoline prices rose just 0.9%.
But diesel fuel prices almost caught up with inflation, rising 9.1% over the year.
But this year everything can change, experts say, recalling that from February 5, an embargo on imports of Russian oil products into the European Union will take effect.
This could lead to a surplus in the domestic diesel fuel market and, as a result, a fall in prices, believes Kirill Rodionov, an expert from the Institute for the Development of Fuel and Energy Complex Technologies.
According to the expert, the EU embargo will not have a major impact on petrol prices.
So it’s not worth expecting a price drop at gas stations. The most likely scenario is that retail prices continue to grow slowly at rates similar to or below inflation. But with serious export problems, local price pressure and price drops at gas stations are also possible, as has already happened, notes Dmitry Alexandrov, head of the analytical research department at IVA Partners Investment Company.
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Source: Russian newspaper