... the oil products marketplace Open Oil Market, the rise in exchange gasoline prices is linked to a reduction in subsidies for oil refineries. In May 2025, payments for the damping mechanism (compensation to oil companies from the budget for supplying fuel to the domestic market at prices below export levels) amounted to 42.5 billion rubles – 32% less than the previous month and 79% less than in May 2024. The reduction in subsidies leads to a decline in oil refining margins. In this situation, oil companies have no choice but to compensate ...

... the link: Is Oil Product Production in Russia Declining? In 2024, Rosstat stopped publishing weekly and monthly statistics on the production of automotive gasoline and diesel in Russia, forcing industry participants to rely on indirect indicators of fuel output. Analysts from OPEN OIL MARKET analyzed the main available indicators and found that: Marine exports of petroleum products have decreased the most this year — by nearly a quarter. This indicator is influenced by factors such as unscheduled refinery repairs and other geopolitical events. According to S&P Global Platts, marine shipments of ...

... not currently a primary market for Gazprom, influences global energy prices. If the winter of 2025/26 is cold, the price situation may improve and Gazprom could benefit from rising export prices to China (contracts with the PRC may be linked to global fuel prices, albeit with a lag). Additionally, gas exports to Asia will continue to grow: Gazprom plans to further increase supplies to China via the existing pipeline, approaching design capacity. The second half of the year will see the commissioning of additional compressors and the expansion of the ...

... gasoline. A serious threat to the fuel market, however, is the current drop in oil prices, which could prompt the Ministry of Finance to reduce subsidies under the damping mechanism (compensating part of oil companies’ costs from the budget for supplying fuel to the domestic market at prices below export levels). The expert recalls that a previous attempt to cut subsidies in July 2023 led to a rally in the fuel market, forcing the Ministry of Finance to revert to the previous damping configuration. Translated using ChatGPT Sourse: https://rg....

... export ban, which was imposed in August 2024 and later extended until the end of the year. However, regulatory specifics also play a significant role. The current parameters of the damping mechanism—officially intended to compensate for reduced fuel exports—only account for exchange prices of AI-92 gasoline. The mechanism does not include AI-95 and AI-98, which gives oil companies little incentive to limit price increases for these grades. Additionally, trading liquidity for AI-98 on exchanges ...