Fuel Prices Rise Sharply in Moscow

Gas stations in Moscow saw a sharp rise in fuel prices last week. According to the Moscow Fuel Association, as reported by Interfax, the average price of AI-92 gasoline rose to about €0.78 ($0.90) per liter, AI-95 to about €0.86 ($0.99) and diesel to €0.94 ($1.08).

The trend was particularly visible in the private NeftMagistral network, where gasoline and diesel prices rose by the equivalent of €0.15 ($0.17) per liter. The Trans-AZS network also recorded a significant increase. By contrast, large vertically integrated oil companies moved more cautiously.

Russia’s oil industry is facing waves of unplanned refinery maintenance this spring and summer, pushing prices on the St Petersburg exchange to high levels. Although government agencies describe the situation as stable, price rises at gas stations are accelerating.

From the beginning of the year to mid-June, consumer gasoline prices in Russia rose by 6.61%, significantly outpacing overall inflation of 3.68%. In Moscow, fuel prices have risen by just under 7% since January.

Market tensions have also been reflected in targeted restrictions and fuel sales limits introduced in selected regions in recent weeks, particularly at private gas stations. On 16 June, even the major oil company Tatneft temporarily limited fuel sales, but lifted the restriction the next day.

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