Petrol prices have risen again

After a sharp fall in the spring, petrol prices picked up again in June. Experts attribute this to a reduction in the surplus (i.e. excess) of fuel on the market, which arose against the background of EU and US sanctions (Russian exporters have adapted to sanction pressure), as well as a increase in demand for the product from small-scale wholesalers and retailers during the summer holidays and a rise in the popularity of domestic tourism.

For example, sales of petrol at gas stations in the Rostov, Samara, Saratov and Dagestan regions increased by 4-23% in the first week of June compared to May, Kommersant reports, citing data from industry participants. Demand for passenger fuel is fueled in particular by the current ban on flights at 11 southern airports in Russia.

Recall that in May, wholesale prices fell, breaking the record prices of 2016. Gas stations began to receive an unprecedented high margin on sales – the source notes that one-liter gas stations AI-92 and AI-95 received 9 and 10 rubles margin, respectively. In June, the fuel on the market again rose in price – by 3.5% and 1.9%, reaching 41.9 and 44.9 thousand rubles per tonne of AI-92 and AI-95, respectively.

How will this affect the wallets of motorists? While it is difficult to make an accurate forecast because there is another factor. The Ministry of Finance is now discussing reducing the damper (this is a system of compensation payments to oil companies) – the authorities want to reduce these costs. It could also lead to higher wholesale fuel prices and shrinking gas station margins – and then gas stations will shift their costs to retail prices. It is not yet clear how serious this growth will be.

  • In addition, an increase in payment for using Yandex.Gas station gas stations may contribute to the increase in retail prices.
  • “Driving” can now be viewed on RuTube.

Source: Z R

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