Gasoline prices fell in the regions of Russia, but they stabilized at Moscow gas stations

Gasoline prices fell in the regions of Russia, but they stabilized at Moscow gas stations

Gasoline prices fell in the regions of Russia, but they stabilized at Moscow gas stations
News

11 March, 13:18
Business
Photo: autosaratov.ru
In Russia, gasoline began to become cheaper at gas stations. This was due to lower wholesale fuel prices. The wholesale supply increased as oil companies cut exports amid sanctions against banks. In addition, due to sanctions imposed by the West, Belarusian refineries have redirected their supplies.

The Federal Antimonopoly Service, noted the business portal RB. RU, sees the prerequisites for reducing retail prices for gasoline in Russia after the fall in wholesale prices. This was stated by the head of FAS Maxim Shaskolsky.

The decrease in fuel prices at the St. Petersburg International Commodity Exchange has been recorded since the end of February 2022. So, from February 28 to March 5, the cost of AI-92 gasoline fell by 11.6%, and AI-95 - by 9.6%.

Following the fall in wholesale prices, the cost of gasoline at gas stations began to decline. However, the decline is still observed only in the regions. According to the Moscow Fuel Association, growth at the capital's gas stations has only stopped growing and prices have stabilized - since the end of February, the cost of fuel has not increased, although earlier it had risen in price by about 0.02-0.05% per week.

Price cuts are fixed at gas stations of regional independent chains that buy gasoline on the stock exchange. In particular, from March 1 to March 5, 2022, fuel prices were reduced in Syktyvkar, Salekhard, Nizhny Novgorod and Irkutsk regions and Primorsky Krai. On average, the decrease was 1-2 rubles per liter.

According to the head of the Russian Fuel Union Yevgeny Arkusha, the reduction in gasoline prices now occurs mainly at those independent gas stations where it was much more expensive than at large oil companies. Major oil companies have neither cut nor raised prices at their gas stations since February 28.

Wholesale fuel prices in Russia are falling due to the fact that oil companies have reduced exports and redirected these volumes to the domestic market, Dmitry Gusev, vice president of the Independent Fuel Union, said. This happened due to problems with payment for export deliveries due to sanctions. In addition, RB.RU emphasizes , Belarusian refineries began to supply gasoline and diesel fuel to the Russian market, although previously they usually sent it to Ukraine and the Baltic countries.

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