The price of AI-95 petrol on the St Petersburg International Mercantile Exchange has reached a historic high, surpassing 77,000 roubles (US$964,6) per tonne.
Source: Russian media outlet Kommersant
Details: A market insider linked the price rise to Ukrainian drone attacks on Russian oil refineries on 2 August. They said these attacks had damaged crude processing units with a combined capacity of about 40,000 tonnes per day, with repairs expected to take between one to six months.
Advertisement:
Earlier, Reuters, citing its own sources, reported that the Rosneft refinery in Novokuibyshevsk had completely stopped operations following drone attacks, while the refinery in Ryazan had halved its production capacity.
The Russian Energy Ministry described the market situation as stable. In a comment to RBC, a Russian news outlet, the ministry said that oil companies had redirected additional petrol supplies to the domestic market to stabilise the situation, reducing exports.
The previous record high price for AI-95, the most popular grade of petrol in Russia, was set in September 2023, when a tonne cost 76,900 roubles.
On 28 July, the Russian government banned oil producers from exporting petrol until 31 August. This decision was explained by increased seasonal demand and the agricultural fieldwork period.
Background:
- Petrol prices in Russia have surged over the past year, with retail prices rising by 18%. Prices are expected to grow by another 8% by the end of 2025.
- In May, Russia drastically cut its seaborne petrol exports, with volumes down nearly 50% year-on-year.
Support Ukrainska Pravda on Patreon!
Click Here to Read the Full Original Article at Ukrainska Pravda…