Price of AI-92 Gasoline in Russia Reaches A Record

At the St. Petersburg International Commodity Exchange, the price of AI-92 gasoline hit a new high of 55,720 rubles per ton.

Last week, the mark surpassed the all-time high set in May 2018, before dipping marginally, according to RIA.

AI-95 gasoline is also trading at the all-time high of 59,602 rubles achieved in July 2020. The price of AI-95 on the stock exchange on Monday was 59,207 rubles per ton as a consequence of trade.

The price of diesel fuel (51,879 rubles) is at an all-time high, with a historical high of 52 686 rubles per ton set in June 2021.

The Russian Fuel Union wrote to Prime Minister Mikhail Mishustin in July, expressing concern over the deteriorating pricing situation. As stated in the letter, wholesale costs are rising at a rate substantially faster than inflation, but retail prices are being held steady by inflation, causing independent gas stations to lose money.

An increase in export tariffs on petroleum products, according to the organization, would be an efficient way to slow the rise in wholesale costs.