The situation the Russians have been waiting for is coming. Price trends in the Russian fuel market are becoming more favorable than in the European and U.S. markets.
In Russian regions there is a decrease in the price of major brands of gasoline. This was announced by Maxim Shaskolsky, the Head of the Federal Antimonopoly Service of Russia.
He also commented on the existing prerequisites for falling retail prices for motor fuel, and added that the agency has full control over the situation on the fuel market in the country.
Gasoline prices are dropping in Russia. Photo: Marketsignal
Exchange prices are falling, wholesale prices follow them, logistics have remained the same, the presence of volume in the market is in sufficient quantity, strong stocks have been formed – all conditions have been created for a reduction in the price at gas stations.
According to the St. Petersburg International Mercantile Exchange (SPIMEX), Russia’s largest trading platform for petroleum products, oil, natural and liquefied gas, timber, building materials and mineral fertilizers, the price of gasoline AI-92 fell by more than 11% from February 28 to March 5. Benchmark AI-95 fell in price by 9.63%.
A downward trend in prices continued this week from March 7 to 11. As a result, since late February, the cost of AI-92 has decreased by 24.5% and the price of AI-95 has fallen by 22%.
At the same time, European countries experiencing problems with oil supplies due to the disruption of logistics chains, which were a consequence of economic restrictions imposed on Russia by the West, have seen a significant increase in gasoline and diesel fuel prices. In some of them, the growth in the last two weeks has exceeded 100%.
The US residents are not happy with the fuel market either. Recently Stockinfocus.ru wrote about another price hike in the US. As of March 11 the cost per gallon has continued to climb in the US, reaching $4.32.
On topic: Olaf Scholz has given the “backlash.” OPEC did not support the U.S. And other good news. It’s Russia that hasn’t responded in any way yet.
