Gasoline trading prices in Russia reach record high following Ukrainian drone attacks

Source: Meduza

The exchange price for AI-95 gasoline exceeded 77,000 rubles ($965) per metric ton for the first time on record on Monday, Kommersant reported, citing data from the St. Petersburg International Mercantile Exchange.

A market source told the outlet that the surge was linked to Ukrainian drone strikes on oil refineries on August 2. According to the source, the attacks damaged crude processing units with a combined capacity of about 40,000 tons per day. Repairs could take from one month to six months.

Reuters, citing its own sources, also reported that the strikes had completely shut down Rosneft’s Novokuibyshevsk refinery and cut production at the refinery in Ryazan by half.

Russia’s Energy Ministry, for its part, described the market situation as stable. In comments to RBC, the ministry said oil companies had redirected additional volumes of gasoline to the domestic market and reduced exports to help stabilize prices.

AI-95 is the most widely used gasoline in Russia. Its previous record price was set in September 2023, when a ton sold for 76,900 rubles ($964).

On July 28, the Russian government imposed a full ban on gasoline exports until the end of August, citing increased seasonal demand and the ongoing agricultural season.

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Gasoline trading prices in Russia reach record high following Ukrainian drone attacks

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Gasoline trading prices in Russia reach record high following Ukrainian drone attacks

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