Russian market - Fuel - Incubator

Residents of the Yamalo-Nenets Autonomous Okrug can buy more fuel with their salary than residents of Ingushetia. Gas prices in Russia increased in 2023, but after the government's stabilization, they decreased slightly. At the beginning of 2024, prices started to rise again. The average price of AI-92 in January 2024 was 7.2% higher compared to 2023.

The Russian Ministry of Energy assures that there are no fuel supply issues due to the accident at the Tuapse plant, as it is oriented towards exports. Shulginov stated that there are no problems with fuel on the market following the decrease in exports. The question of exempting small plants from duties is being considered.

The majority of the fuel price (up to 70%) is accounted for by taxes and excise duties. The rest includes costs of raw materials, processing, and gas station profits. The state sets the price based on its objectives. There is a lack of oil refineries, and consumers are interested in increasing energy efficiency. In the coming years, fuel prices will continue to rise, but changes in oil prices are unlikely to affect them.

The Federal Antimonopoly Service (FAS) reported on the non-compliance with the recommendations of the Ministry of Energy regarding additional fuel supplies to the market. Some companies are not following the recommendations, which may disrupt the regularity of trading. FAS reminded about the consequences and the increase in demand for gasoline.