the Price of gasoline AI-95 at the St. Petersburg international Mercantile exchange (SPIMEX) on June 17 reached the first mark 56,751 thousand rubles per ton, according to trading on a national index (reflects the weighted average price of petroleum products to all major refineries in Russia). Prices will rise and in retail, at gas stations.
Prices were new highs in all regions. The price per ton of AI-92 at the auction on 17 June rose by 0.6% to 49,679 thousand rubles, but since the beginning of June, this small growth is maintained. The price of AI-92 has updated the record a week ago — 49,822 thousand rubles.
prices at the gas station during isolation did not grow or symbolically dropped 0.2% and 3 times exceeded the prices of manufacturers of gasoline.
the Production of gasoline in Russia after the historic fall in April because of the quarantine grew by 8% in may, as selling it to gas stations by 14%, from the data CDU TEK. The decrease in the production of fuel in the country started in early April, when the coronavirus has reached Russia. Reserves are allowed to cover the small demand for fuel, which resumed in late April after declining for three consecutive weeks. In General, due to quarantine in Russia decreased fuel consumption by 40-50%.
gasoline Production in Russia will recover in June to the level seen in June last year. The exports of petroleum products will be reduced, and the supply of the domestic market will increase, says the Ministry of energy. This stabilizes prices.
the causes of the rise in price of gasoline — damping mechanism, reducing the required volume of gasoline sales on the exchange and import restrictions.
Prices may slow the growth: reduction in mandatory sales on the exchange temporary as the restriction of the supply of foreign fuel.
the Ratio of gasoline sales on the stock exchange is only reduced to 30 June — from 10% to 5% of total production of diesel fuel from 6% to 3%. The restriction of gasoline imports are also temporary — to October 1, 2020. These decisions were taken by the Russian government to support national oil companies due to the sharp decline in production of fuel in the country.
In Russia there is no direct reference to the price of oil to the price of automotive fuel, so now the imported fuel is cheaper than Russian. Budget formula eliminates the jump in the price of fuel if you change the price of oil. The thing in the damping mechanism of the budget: when the price of oil is high, oil companies keep the price of fuel in Russia and getting the extra budget for stable prices at the filling stations (a positive damper), and when the price of oil low, oil companies deduct the difference in the budget to curb fuel prices instead of reduce it (a negative damper). Russian oil companies in 2019 received from the budget for the containment of fuel prices 250-300 billion rubles. according to the Ministry of Finance.