Russian regions with the most affordable fuel prices.

Residents of the Yamalo-Nenets Autonomous Okrug can buy the most fuel with their average monthly salaries, while residents of the Republic of Ingushetia can buy the least.

FUEL PRICE DYNAMICS

In 2023, gasoline prices in Russia were rising, especially actively from January to September. However, after the government took stabilizing measures in the fourth quarter, prices slightly decreased. In early 2024, prices started rising again. As a result, in January 2024, the price of AI-92 gasoline nationwide was 7.2% higher than in January 2023.

Prices for fuel also increased in almost all regions. In January 2023, the average price of AI-92 gasoline was lower than in January 2023 only in the Chechen Republic, with 83 subjects of the Russian Federation seeing an increase, and prices remained unchanged in one region.

Prices for gasoline and their dynamics vary significantly from region to region. In January 2024, the average prices for AI-92 gasoline in Russian regions ranged from 47.14 rubles per liter to 66.19 rubles, with the average level in Russia being 50.56 rubles per liter.

Regional differences in income levels remain high. Therefore, the burden on drivers' family budgets depends not only on the fuel price but also on the ratio of gasoline price to wages in a specific region. Recently, wages started to increase, improving the affordability of gasoline. However, affordability still varies significantly across regions.

To assess the affordability of automotive fuel, calculations were made on how many liters of AI-92 gasoline a resident in each region can buy with their average monthly salary. Based on this data, a ranking of Russian regions was compiled on the accessibility of automotive fuel for the population.

The leaders in the ranking remain the Yamalo-Nenets Autonomous Okrug, Moscow, and the Chukotka Autonomous Okrug, where one can buy over 2,000 liters of AI-92 gasoline per month with the average salary, compared to the all-Russian level of 1,244 liters. In six more regions - the Nenets Autonomous Okrug, the Khanty-Mansi Autonomous Okrug - Yugra, the Magadan Region, the Kamchatka Krai, St. Petersburg, and the Murmansk Region - residents can buy over 1,500 liters per month.

In twenty-six Russian regions, drivers can buy from 1,000 to 1,500 liters of AI-92 gasoline with their average monthly salary. This number increased by ten compared to the previous year. Residents of seven regions can buy less than 700 liters of AI-92 gasoline per month, one liter less than the previous year. The low availability of gasoline in most regions at the bottom of the ranking is due not only to the gasoline price, which in some regions is close to or below the all-Russian average, but also to low wages.

PRICE SPREAD

The price spread for automotive fuel in Russian regions is very wide: from 47.14 rubles per liter of AI-92 gasoline in the Komi Republic to 66.19 rubles per liter in the Magadan Region. The highest gasoline prices are still observed in the Far Eastern regions due to high transportation costs. However, in many high-priced regions, gasoline remains highly available thanks to high wages. In four regions where gasoline prices exceed 60 rubles per liter, residents can buy over 1,000 liters of gasoline with their average monthly salary. Most of these regions are in the top ten in terms of gasoline availability, except for the Sakha Republic (Yakutia), which ranks 11th.

It is noted that the minimum price for AI-92 gasoline was recorded in the Komi Republic, the Chelyabinsk Region, and the Kurgan Region. However, in some regions with relatively low gasoline prices, its availability remains low due to low wages in those regions. In 20 out of 33 Russian regions where the price of AI-92 gasoline was below 50 rubles per liter in January 2024, residents can buy less than 1,000 liters of gasoline with their average monthly salary.

FUEL COST INCREASE

Except for the Chechen Republic and the Chukotka Autonomous Okrug, where gasoline prices remained unchanged or even slightly decreased, the cost of gasoline in January 2024 increased in almost all regions of Russia. The largest price increase was recorded in the Sakhalin Region (+18.1%) and the Yamalo-Nenets Autonomous Okrug (+15.6%). In seven regions, including the Sakha Republic (Yakutia), the Magadan Region, Tuva Republic, Khanty-Mansi Autonomous Okrug - Yugra, Trans-Baikal Territory, Altai Republic, and Dagestan Republic, prices rose by 10% or more.

Thanks to the damping mechanism, the rise in gasoline prices in 2024 will be contained at the inflation level, about 5-6%. Meanwhile, the increase in wages is likely to occur at a faster pace, improving the affordability of gasoline in 2024.