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Why are gasoline and diesel prices rising in the fall of 2024
... measures on fuel exports. Inflation and changes in fuel market regulations are also playing a role. Experts predict that prices may stabilize as seasonal factors subside
The Moscow Fuel Association (MTA) reported that last week, retail gasoline prices at gas stations in the capital rose by 17-18 kopecks, while diesel prices increased by 27 kopecks.
The end of autumn is objectively a period of transition from summer and interseasonal to winter diesel fuel, which contributes to price increases. Currently,...
Experts Assess the Consequences of Lifting the Ban on Gasoline Exports
... briefly lifted in May but reinstated in August after a price surge due to seasonal demand and oil price hikes.
According to Dmitry Gusev, Deputy Chairman of the Supervisory Board of the “Reliable Partner” association and member of the "Russia's Gas Stations" contest advisory board, reopening gasoline exports is justified due to the end of peak demand season and Russian refineries' production capabilities. The government retains the option to reinstate the ban if prices rise. Gusev emphasizes ...
700% Inflation in Russia: How Prices and the Ruble Exchange Rate Have Changed Since 2001
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What Factors Have Influenced Inflation Growth?
Weakening of the Ruble
The dollar exchange rate increased 3.4 times over 23 years, leading to higher costs for imported goods and components.
Rising Raw Material and Energy Prices
Domestic prices for oil, gas, and electricity have increased, impacting the cost of goods and services.
Changes in Tax Policy
The introduction and increase of excise taxes on fuel, tobacco, and alcohol have led to significant price increases for these goods.
Global Economic Crises
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Growth of Money Supply in Russia by 19.2%: What It Means for Investors
... Federation. The increase in money supply may have been prompted by economic stimulus programs aimed at maintaining liquidity in conditions of economic instability.
High energy resource prices. In 2024, Russia maintained export revenues due to stable oil and gas prices, leading to an increase in currency reserves and money supply.
Growth in domestic lending. Banks became more active in lending to businesses and individuals, which increased the money volume in the economy.
Inflation. Rising price levels in ...
The oil market will become oversupplied by the end of 2024.
Column by Sergey Tereshkin for the "Oil and Gas Industry" Portal
According to data from the U.S. Energy Information Administration (EIA), in the second quarter of 2024, global oil supply exceeded demand by 590,000 barrels per day. By the end of the year, this surplus is expected to narrow ...