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Gasoline Price Increase in Russia Exceeds Inflation Rate

Gasoline prices at Russian gas stations have risen by 7.2% between January and September, significantly outpacing the general inflation rate. This increase is primarily attributed to higher excise taxes and logistical expenses.

The average retail price for a liter of AI-92 gasoline reached 60.1 rubles, while AI-95 cost 64.7 rubles as of September 5. Annually, this represents an increase of approximately 10%.

The Federal Antimonopoly Service (FAS) actively monitors the retail market, which keeps retail price increases lower than wholesale price increases. The FAS oversees around 12,000 gas stations and is ready to take antitrust action against companies that permit unwarranted price hikes.

Excise taxes and logistical costs constitute a significant portion of the final price, accounting for as much as two-thirds of the total. It’s also noted that independent gas stations typically have higher fuel prices than those owned by major oil companies.

While exchange quotations have recently declined, industry sources report that small wholesale fuel batches are priced significantly higher due to regional shortages. This may lead to further price increases at gas stations.

In response to low profitability in gasoline sales, the Russian Fuel Union has suggested modifying the price regulation mechanism. Deputy Prime Minister Alexander Novak has directed that this proposal be reviewed by September 25.

The government had previously imposed restrictions on gasoline exports for major producers of petroleum products to ensure domestic market stability. The initial ban was introduced at the end of July and lasted through August.