AI-95's cost hits an unprecedented peak
In recent times, the price of premium-95 fuel (Ai-95 gasoline) in Russia has witnessed a significant surge, with prices nearing 50% higher than at the start of the year. This rise can be attributed to a confluence of factors, including Ukrainian drone attacks on key Russian oil refineries, the Russian government's export ban, and dwindling reserves in the independent market [1][2].
The drone attacks on refineries in Ryazan, Penza, Samara, and Voronezh Oblasts have led to production drops. Repairs are expected to take anywhere from one to six months, further exacerbating the situation [2]. Despite the export ban aimed at stabilizing domestic supply, Russia's domestic stocks remain low, and seasonal demand peaks have added to the price pressures [2]. As a result, small gas stations are facing losses due to the high exchange prices caused by the shrinking reserves in the independent market, pushing retail prices higher [1][2].
In an effort to address these shortages and price spikes, the Russian government is holding emergency talks, led by Deputy Prime Minister Alexander Novak, on August 14, 2025 [1]. One of the proposals under consideration is increasing fuel sales quotas on the St. Petersburg International Mercantile Exchange (SPIMEX) to control retail price increases and prevent them from outpacing inflation [1]. This measure is aimed at ensuring better availability and pricing discipline by adjusting exchange benchmarks for gasoline sales [1].
However, specific details about the new benchmark proposal remain unspecified in current reports [1]. The Federal Antimonopoly Service (FAS) is also considering increasing the benchmark for gasoline sales on the exchange from the current 15% to 17% [1].
The surge in gasoline prices has resulted in new historical records for the third day in a row. In 2023, the cost of AI-92 exceeded 70 thousand rubles per ton, and summer diesel fuel reached 60 thousand rubles per ton [1][2]. According to Rosstat data published on July 30, gasoline prices at Russian gas stations increased by 4.62% from the beginning of the year [1]. The price of a ton of "Regular-92" gasoline rose by 0.45% to 67,62 thousand rubles, while the cost of AI-95, AI-92, and diesel fuel also increased [1].
On August 6, the price of "Premium-95" fuel increased to 78,816 thousand rubles [1]. Despite these increases, the Ministry of Energy has acknowledged the rise in gasoline prices but noted that the pace of growth is within the inflation rate, which has been 4.51% so far this year, according to Rosstat [1].
As the situation continues to evolve, it remains to be seen how these proposed measures will impact the price and availability of gasoline in Russia. Stay tuned for more updates on this developing story.
[1] Kommersant. (2025, August 10). Russia Prepares to Increase Gasoline Sales Quotas on Exchange to Control Prices. Retrieved from https://www.kommersant.ru/doc/4852528
[2] RIA Novosti. (2025, August 9). Ukrainian Drone Attacks and Export Ban Push Russian Gasoline Prices to Record Highs. Retrieved from https://ria.ru/20250809/1760265441.html
- The surge in gasoline prices, resulting from factors such as drone attacks on oil refineries, the Russian government's export ban, and dwindling reserves, has set off a chain reaction affecting not only the economy but also the finance and energy sectors.
- As the Russian government explores solutions to combat the rise in gasoline prices, such as increasing fuel sales quotas on the St. Petersburg International Mercantile Exchange, the impact on the entire industry, including finance and energy, will depend on the effectiveness of these proposed measures.
