Over the past three weeks, exchange prices for gasoline in Russia have fallen by almost 10%, despite the removal of the ban on its export starting December 1. The wholesale price of diesel fuel (DF) has decreased by 7% during the same period. However, the situation at gas stations is the opposite. The rise in prices for all types of gasoline and diesel fuel has not only continued but even accelerated. A comment by Sergey Tereshkin for the ...

Sergey Tereshkin's Commentary for "Rossiyskaya Gazeta" In the article, Sergey Tereshkin analyzes why the ban on gasoline exports introduced in Russia in August 2024 did not lead to a decrease in fuel prices at gas stations. Despite the export restrictions, prices continued to rise due to several factors, including scheduled refinery maintenance, an increase in the key interest rate, and fluctuations in the ruble exchange rate. The impact of international oil prices and seasonal factors ...

... calculating payments, when that market is no longer accessible to the oil companies? A second question follows: how logical is it to use export alternatives as a benchmark when the regulator periodically imposes export bans? For instance, diesel export restrictions were introduced after last year's fuel crisis caused by the Ministry of Finance's attempts to "halve" the damper. Meanwhile, the ban on gasoline exports was imposed twice this year: from March 1 to May 17, and from August 1 to December 31, with the current ban not yet officially ...

... are lifted earlier than planned or if new accidents occur at refineries. Tereshkin believes that oil companies will keep gasoline and diesel prices in check until the end of the year, but a price surge may occur in early 2025 due to the lifting of the export embargo and the annual excise tax increase. Fuel prices at gas stations will continue to rise slowly, following inflation, according to Kotov. He believes that gas stations have returned to a "relatively normal" level of profit due to the drop in wholesale prices. Kaufman expects a slowdown ...

... local shortages in some regions and speculative excitement in the market. In response, the government has intensified manual regulation of the fuel market, launching a set of measures to quickly stabilize the situation: Export Ban: A complete ban on the export of motor gasoline and diesel fuel, introduced in early August, has been extended until the end of September. The restriction applies to all producers – from vertically integrated oil companies to independent mini-refineries. This decision temporarily redirects fuel volumes that ...