Prices for motor fuels on the St. Petersburg International Commodity and Raw Materials Exchange SPIMEX rose by a noticeable margin over the last two days after a sustained period of decline, according to trading data published on the platform.
In the brief span of two days, AI-92 gasoline advanced to roughly 50.4 thousand rubles per ton, up by 3.88 percent. AI-95 followed with a price around 52.5 thousand rubles per ton, increasing by 2.88 percent. Summer diesel moved higher to about 58.8 thousand rubles per ton, a gain of 3.18 percent, while winter diesel rose to about 71.3 thousand rubles per ton, up 1.91 percent. LPG was the standout at the end of the period, climbing to 33 thousand rubles per ton, an increase of 8.84 percent.
Market observers linked the price uptick to the emerging rumor that the ban on fuel exports from Russia, put in place on September 21, 2023 with the aim of stabilizing the domestic market, could be fully lifted. Reports citing Reuters sources note that discussions were shaping expectations around an export return.
Early in November a deputy prime minister suggested that restrictions on fuel exports should be removed. The comment signaled a potential shift in policy that could influence both domestic pricing and international supply dynamics, drawing attention from traders and analysts alike.
The question of how gasoline prices are determined has long been a topic of interest among Russians and market watchers. The SPIMEX data provide a snapshot of how supply, demand, and regulatory actions interact to set benchmark levels for the country and the broader region. Observers emphasize that price movements on SPIMEX reflect a combination of production costs, freight logistics, seasonal demand, and policy signals from authorities.