Between June 29 and July 5, the price of gasoline in the Russian Federation climbed by 0.17 percent, while the country’s overall inflation rate was 0.46 percent. According to Rosstat statistics, it was also below the Russian average level of price rise the previous week.
In general, the cost of gasoline grew at a slower rate than inflation in June (0.58 percent vs 0.69 percent), despite the fact that the price has grown by 4.44 percent since the beginning of the year, which is higher than inflation of 4.19 percent.
Diesel prices, unlike gasoline, have been rising at a slower rate than inflation since the beginning of the year. They grew by 0.2 percent during the week of June 29 to July 5, and have grown by 0.14 percent since the beginning of June. The cost of a diesel engine has increased by 2.7 percent since the beginning of the year.
The Russian Ministry of Energy highlights the constant trends of gasoline retail prices, which do not surpass inflation. Fuel output is continuously expanding in response to rising demand, and it is already exceeding consumption. According to June operating statistics, daily gasoline shipments were 59.5 thousand tons for AI-92 and 46.2 thousand tons for AI-95, up 4.7 percent on average over the same month last year, according to Rosstat data from the Ministry of Energy.
Given the stable operation of the modified damper mechanism, the present trajectory in supply increase to the domestic market is likewise natural, according to the Ministry of Energy.