In the European part of Russia, notably around St. (Saint Petersburg), AI-95 gasoline traded on the St. Petersburg International Commodity and Raw Materials Exchange reached a record high. Market participants reported that the price stood at 61,816 rubles per tonne, marking an all-time peak that surpasses historical levels observed on the exchange. The data reflects direct site records gathered from recent trade activity.
Over the course of the trading day, the price of AI-95 advanced by 0.12 percent. Meanwhile, AI-92 gasoline also showed upward movement, climbing by about 0.06 percent to 53,202 rubles per tonne. Diesel fuel used for summer needs declined slightly in price, with diesel shedding 0.57 percent to settle around 51,351 rubles per tonne. These movements illustrate a concurrent trend where multiple fuel grades respond to shifting market conditions during the same session.
Record after record for AI-95 fueled discussions on foreign exchange and supply dynamics, as prices began to rise from mid-May. The last time prices reached a similar zenith was during the summer of 2021, when the 95th gasoline traded on the stock market at approximately 59,966 rubles per tonne amid the broader pandemic period. The sequence of events highlights the sensitivity of fuel markets to currency fluctuations and macroeconomic signals, even as other factors—such as regional demand and refinery throughput—continue to play a role in the price formation process.
Earlier in the year, officials from the Russian Ministry of Energy stated that changes in foreign exchange rates would not exert a substantial influence on retail gasoline prices. By late April, fuel prices in Russia began to tick upward again, a move that coincided with reduced shock absorber payments and renewed market attention. Industry observers noted that there did not appear to be an immediate and direct trigger for a broad price uptick, yet the effect of market expectations and supply considerations remained evident in pricing dynamics across the sector.
Market observers reported Reuters coverage on May 23 indicating that the Russian government was weighing a prohibition on gasoline exports. The subsequent day, May 24, Nikolai Shulginov, head of the Ministry of Energy, stated that the ministry had not yet considered such a ban. He clarified that at most the ministry had issued guidance to companies about reducing export volumes. The conversation around potential export restrictions underscored how policy announcements can influence trader sentiment and fuel prices, even when official positions remain noncommittal in the short term.