Fuel Prices in Russia: Projections for Fall and Market Factors
Gasoline at stations is projected to cost up to 62.98 rubles per liter in the fall, while diesel fuel is expected to be no more than 64.61 rubles per liter. This assessment was shared with socialbites.ca by Tatiana Skryl, an Associate Professor in the Department of Economic Theory at PRUE GV Plekhanov.
Skryl notes that the current fuel market calls for stronger government actions to stabilize gasoline costs. The central concern is that the current pace of price increases for gasoline and diesel is outstripping overall inflation, reducing profitability for retailers and potentially making it unviable to supply fuel to consumers at the pumps. If the trend continues, some off-grid gas stations could be forced to close.
According to Skryl, the state has continued to provide depreciation payments to oil companies to curb rising input costs for fuel.
Additionally, changes in trading rules for petroleum products tightened the bidding corridor before the market opens, limiting the number of bids at auction. This shift, the economist argues, would prevent a sharp rise in gasoline prices both on the stock market and at stations. He forecasts a modest price uptick, estimating gasoline at an average of 62.36 rubles per liter and diesel at 63.98 rubles per liter in the retail network.
Since the start of the year, gasoline prices across brands have risen by about 60 to 70 percent, while diesel has advanced around 40 percent. In August, the price of AI-95 gasoline surged to multiple record highs, briefly reaching 72,000 rubles per ton.
Previously, Novak stated that there were no fuel shortages in Russia.