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Russian Gasoline Prices Surge as Shortages Persist: Reuters

OIL PRODUCTS

The wholesale price of Russian high-octane Ai-95 gasoline jumped by around 44% in the past month and a half, close to an all-time peak, Reuters said.

  • The price rise is due to shortages of the grade amid refinery maintenance and high demand.
  • Prices on the Saint-Petersburg International Mercantile Exchange were 73,605 roubles/mt, compared to an all time of high 76,068 roubles/mt.
  • Sources told Reuters that producers had failed to address high demand for gasoline, now skewed towards Ai-95.
  • The government previously implemented a ban on gasoline exports from March 1, but it was suspended in June.

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