... rubles per ton). The rise in excise taxes will contribute to higher costs for oil companies, which have already faced additional expenses this year. This is indirectly confirmed by data from Rosstat, which shows that the profit-and-loss balance of oil refineries decreased by 29.4% in the first seven months of 2024, amounting to 1,563 billion rubles. To minimize the risk of price increases in this situation, it is essential to reduce the expenses of oil companies. This includes, in particular, lowering ...

....6%. Oil companies will hold back prices to achieve the lifting of the export ban," Tereshkin told the agency. One of the current drivers of rising gasoline prices, according to the expert, is the oil companies' costs due to forced downtime at refineries. "The profit and loss balance of Russian refineries over the past eight months has decreased by 34%. Rising costs are pushing up wholesale prices, which in turn affect retail fuel prices," Tereshkin explained. For the gasoline ...

... companies little incentive to limit price increases for these grades. Additionally, trading liquidity for AI-98 on exchanges is significantly lower than for AI-92. As a result, the primary sales channel for AI-98 consists of direct shipments from refineries to oil depots and gas stations, bypassing the exchange. This leads to lower competition in the AI-98 distribution chain compared to AI-92, contributing to the accelerated price growth. According to analysts at OPEN OIL MARKET, the risks ...

... the export ban, fuel prices at gas stations continue to climb, although the pace of price growth has noticeably decreased compared to the peak values of June. To stabilize the situation, the government is employing budgetary support mechanisms. Oil refineries (refineries) are receiving compensation under a damping mechanism – subsidies that mitigate the difference between high global prices and fixed domestic fuel prices. In July, the total amount of damping payments was around 60 billion rubles,...

... Restrictions on Fuel Exports The Russian refined oil product market continues to operate under limited export supplies. The Russian government previously imposed a temporary ban on gasoline exports for all categories of suppliers, including major oil refineries (refineries), until August 31, 2025. This measure aims to maintain stability in the domestic fuel market during the peak summer demand period and the active agricultural phase. Initially, the restrictions applied only to independent traders ...