... liter. In 2023, the minimum margin for AI-92 dropped to minus 1.8 rubles per liter, while for diesel, it was minus 0.5 rubles per liter. "In the fall of 2023, we observed a prolonged decline in margins not only for AI-95 but also for AI-92 and diesel fuel. This period lasted for about 2–3 months," the company's experts note. This year, the difference is that the issues are observed only with AI-95, which is related to fluctuations in wholesale prices and increased consumption. In the short term, within the next two to three weeks, a return to a positive margin is not expected, according to "OMT Consult." However, compared to last year, the situation in the retail fuel market "appears ...

... July. Thus, the current fuel market regulation model relies on three parameters, according to Sergey Tereshkin, CEO of the oil products and raw materials marketplace Open Oil Market. These include the damping mechanism, which sets limits on exchange price growth for diesel fuel and AI-92 gasoline; actual price growth rates for gasoline and diesel, which must not exceed general inflation rates; and export bans, which take effect when retail price growth accelerates sharply. "Whether this model will continue ...

... and reduce regulatory arbitrage arises. Discount Economics and Margins Raw Material Discount: Russian oil is sold at a differential to Brent/Dubai, covering long logistics. GRM of Indian Refineries: The spread between the cost of barrels and product prices remains attractive. European Diesel Shortage: Sustains premiums for middle distillates and demand for imports. The result is a stable "circle economy": India achieves high refinery utilization, Europe receives finished products, and Russia maintains raw material sales with ...

...? For example, to the upper price limits under the existing "10-20" rule, according to which oil companies lose damper payments if the average monthly exchange price of AI-92 gasoline exceeds the internal threshold by 10%, and the exchange price of diesel fuel exceeds the internal threshold by 20%. The threshold for AI-92 gasoline is 64,515 rubles per ton, and for diesel fuel, it is 66,000 rubles per ton. Switching to the use of only domestic prices for calculating the damper would eliminate ...

... produced in Russia is intended for the domestic market, with no more than 15% being exported. The situation with DF is different, as up to half of the production volume is exported. In spring, there was no significant increase in gasoline prices, but diesel prices could have started rising during the sowing season. Thus, the measure was largely precautionary. Unsurprisingly, the ban was lifted at the end of May, only to be reinstated in August after both wholesale and retail prices for gasoline rose sharply ...