Over the course of the week, wholesale gasoline prices in Russia rose by roughly seven to nine percent. The trend is visible in the activity recorded on the St. Petersburg International Commodity and Raw Materials Exchange, commonly abbreviated as SPbmTSB, which tracks wholesale transactions across key fuel grades and related commodities.
Specifically, AI-92 gasoline advanced by 9.42 percent, reaching 48,494 rubles per ton. By comparison, the exchange level at the close of Friday, January 19 stood at 44,318 rubles per ton. AI-95 gasoline followed with a 7.63 percent increase, arriving at 51,084 rubles per ton. This pattern reflects a broader move in refined product pricing during the period, driven by supply dynamics, demand signals, and regional market adjustments that influence trading desks and wholesale buyers across the sector.
Diesel prices also moved higher, though the pace varied by variant. Off-season diesel rose to 54,113 rubles per ton, up 0.19 percent from the prior week. In contrast, summer diesel fell by 1.57 percent to 52,800 rubles per ton, slipping to the level observed at the last Friday close which stood at 53,644 rubles per ton. Winter diesel followed a downward trend, dropping 3.22 percent week on week to 58,348 rubles per tonne. These shifts illustrate how seasonal pricing, regional demand patterns, and refinery maintenance cycles can create differential moves across diesel grades during a single reporting period.
During the same window, the overall price of fuel climbed by 10.2 percent to 19,425 rubles per ton, compared with 17,627 rubles per ton the prior week. In parallel, liquefied petroleum gas LPG reached 19,741 rubles per ton, marking a 7.24 percent increase. The composite changes across gasoline, diesel, and LPG underscore the interconnected nature of wholesale energy markets and the way price signals propagate through the downstream chain from refineries to distributors and retailers.
Signals from market participants point to ongoing recalibrations in wholesale pricing ahead of upcoming market cycles. Traders note that price momentum may reflect shifts in refinery throughput, fuel stock levels, and regional demand profiles, alongside macroeconomic factors that influence currency movements and import costs. The observed gains in AI grade gasoline, coupled with mixed performance among diesel variants, suggest that buyers are adjusting procurement plans to align with anticipated supply constraints and seasonal consumption patterns. Suppliers may respond by revisiting contract terms, blending strategies, and inventory management to balance risk and return across the value chain.
From a broader perspective, movements in wholesale fuel prices often foreshadow consumer price trajectories at the service station level, though the transmission is not always linear. Retail prices can diverge from wholesale benchmarks due to retailer margins, taxation, distribution costs, and regional competition. Stakeholders across the energy sector watch these indicators to gauge the competitiveness of domestic markets, potential inflationary pressures, and the resilience of supply chains in the face of global price volatility and domestic policy developments.
Market observers remind readers that weekly snapshots capture a moment in a longer cycle. The latest data should be interpreted as part of a sequence that includes refinery maintenance schedules, seasonal demand shifts, and regulatory changes that may alter price trajectories in subsequent periods. Analysts recommend monitoring exchange reports, refinery announcements, and broader energy market commentary to form a clearer view of how wholesale pricing translates into end-user costs over time.
Historically, shifts in wholesale pricing for gasoline and related fuels have reflected a combination of supply discipline, commodity market pressures, and domestic consumption patterns. In the current cycle, the price action signals cautious optimism among suppliers while highlighting the ongoing need for prudent stock management and price risk controls. The evolving market environment continues to shape expectations for February and beyond, as buyers and sellers adjust to new price baselines and the rhythm of weekly settlement cycles.
Previous analyses examined how much gasoline might cost at Russian gas stations in February 2024, with historical reference points illustrating the sensitivity of retail pricing to wholesale movements and seasonal factors. This context helps explain why price developments on the SPbmTSB during the week can have ripple effects across the broader fuel market, influencing planning decisions for transport, logistics, and energy budgeting for businesses and households alike.