Following a sharp drop in spring, petrol prices regained momentum in June. Industry observers tie this rebound to a smaller surplus of fuel on the market, a consequence of sanctions on Russian exporters that they have learned to adapt to, together with renewed demand from small wholesalers and retailers during the summer season and a growing interest in domestic tourism.
For instance, in the first week of June the Rostov, Samara, Saratov and Dagestan regions reported petrol sales at gas stations rising by 4 to 23 percent versus May, according to Kommersant which cites industry participants. Demand for passenger fuel is also supported by a temporary ban on flights to 11 southern airports in Russia.
In May wholesale prices had fallen, briefly eclipsing the record highs seen in 2016. Gas stations enjoyed unusually high margins on sales at that time. A source notes that margins reached 9 rubles per liter for AI-92 and 10 rubles per liter for AI-95. By June the market price of fuel climbed again by roughly 3.5 percent for AI-92 and 1.9 percent for AI-95, reaching about 41.9 thousand rubles per tonne for AI-92 and 44.9 thousand rubles per tonne for AI-95.
What will this mean for drivers at the pump? Predicting the exact impact remains difficult because another factor is at play. The Ministry of Finance is considering reducing the damper, a subsidy mechanism that offsets some costs for oil companies, which could in turn push wholesale fuel prices higher and compress gas station margins. If margins shrink, retailers may pass the added costs on to consumers. The overall scale of any price rise remains uncertain.
- Another potential driver of higher retail prices is an increase in charges for using Yandex.Gas station networks.
- Fuel pricing and consumption trends can also be influenced by broader shifts in transport and energy policy across the region.