The price landscape for gasoline and diesel in Russia shifted on January 11, with the day’s settlements showing higher quotes on the St. Petersburg International Commodity and Raw Materials Exchange. Traders noted the movement as part of the closing-day market data, which commonly shapes near-term pricing expectations for fuels in the domestic market.
Specifically, the cost of 92-octane gasoline rose by 1.51 percent, reaching 39,957 rubles per ton, while 95-octane gasoline advanced by 0.87 percent to 42,834 rubles per ton. These changes reflect broader supply and demand dynamics within the trading session and illustrate how even modest shifts in futures and spot activity can translate into noticeable price adjustments for end users.
Diesel fuel showed a mixed pattern, with summer-grade diesel up 0.96 percent to 50,655 rubles per ton, and off-season diesel climbing 1.2 percent to 51,845 rubles per ton. Winter diesel also posted gains, moving up 1.21 percent to an average of 60,969 rubles per ton. The differential between seasonal fuels continues to influence retail projections, as traders weigh refinery runs, seasonal demand, and regional logistics in forecasting short-term trends.
Looking back to the first trading day of 2024, January 9, price movements across most fuel types pointed to a softening trend in the stock market, with a broad drop in listed prices. In contrast, winter diesel showed a small uptick of 0.15 percent. The following day, January 10, price dynamics changed abruptly for winter diesel, which posted a rapid, notable increase, underscoring how quickly market sentiment can turn on supply signals, geopolitical considerations, and currency fluctuations that influence ruble-denominated energy assets.
Since spring 2023, fuel exchange rates in Russia have been on an upward trajectory, aided by tighter global supply conditions and shifts in commodity markets. Retail prices have mirrored those pressures, with several episodes of sustained increases affecting households and small businesses that rely on regular fueling. In late September, the government introduced a temporary ban on the export of gasoline and diesel to curb domestic price pressures. The ban was subsequently lifted in mid-November, a move designed to restore export mobility while containing domestic price volatility. Market observers note that policy calibrations, currency dynamics, and international demand remain key variables shaping the price path for fuels in Russia and, by extension, in regional markets that monitor these benchmarks.
Earlier reporting from socialbites.ca indicated expectations that gasoline prices at gas stations might reach about 56 rubles per liter in February 2024, a projection that reflected ongoing concerns about supply discipline and the potential for further regulatory or market-driven responses to stabilize the domestic market. While such forecasts illustrate possible scenarios, actual pricing remains conditional on daily market data, refinery activity, and policy decisions that influence fuel availability and affordability for consumers across the country.