... gas revenues in July yielded around 787 billion rubles—less than planned and the third consecutive month below expectations. The government is currently discussing the possibility of temporarily adjusting or suspending the damping mechanism if oil prices and currency factors continue to reduce export earnings. Thus, balancing interests—keeping fuel prices low for the population while simultaneously ensuring budget revenues—remains a complex task for authorities and fuel companies. Market participants are closely ...

... responding to the peak. This year, there hasn’t been a sharp spike in wholesale prices. Instead, prices have been gradually rising compared to 2023 levels, excluding the fall crisis period. According to Sergey Tereshkin, CEO of OPEN OIL MARKET, the price increase results from five factors: reduced fuel production, recovery of the automotive market, seasonal demand growth, rising refinery costs, and increased exports following the lifting of restrictions in May. Future Expectations If gas station prices catch up with inflation ...

... process varies significantly by region. Winter diesel is used less in the south and more in the north. The price difference between winter and summer diesel at gas stations is usually two to three rubles per liter, though this can depend on various factors, such as the price of kerosene, which is often used in the production of diesel that doesn't freeze in low temperatures. Sergey Tereshkin, CEO of the OPEN OIL MARKET fuel marketplace, said that the end of August and September is traditionally a period of rising ...

... Global oil prices ended the week near multi-week highs. The North Sea Brent blend is trading around recent peaks (~$72–73 per barrel, above the psychologically important mark of $72). U.S. WTI is holding steady around $69–70 per barrel. Several factors are contributing to the price increases: Trade truce and rising demand. Progress in trade negotiations between major economies has improved market sentiment. Washington and Brussels have reached a framework agreement that has avoided a new tariff war: agreements have been made ...

... in further price declines. If the price of Brent remains below $70 per barrel, OPEC leadership may resort to verbal interventions, and if that doesn't work, they may take concrete actions," believes Alexander Shepelev. Additionally, he adds, oil prices could rise due to various factors, such as local accidents, logistical bottlenecks, weather disruptions in oil and gas regions, and more. Moreover, the market may be underestimating the role of geopolitics, which may bring further surprises, including in the Middle East, says ...