MOSCOW, 9 Sep — PRIME. The cost of gasoline on the St. Petersburg International Commodity Exchange (SPIMEX) fell on Friday, the AI-92 brand fell in price by 1.41%, AI-95 – by 2.33%, according to trading data.
The price of AI-92 gasoline according to the territorial index of the European part of Russia, following the results of trading on Friday, decreased by 1.41%, to 43,223 rubles per ton. AI-95 gasoline fell in price by 2.33% at once – to 47,289 rubles per ton. Thus, gasoline prices have been steadily declining every day since September 1, with the start of the new damping mechanism.
The cost of diesel fuel decreased by 0.44% to 55,777 rubles per ton. Fuel oil fell by 1.36%, its price amounted to 13,099 rubles per ton, while liquefied hydrocarbon gases (LPGs) went up by 0.38%, to 17,975 rubles per ton. The cost of jet fuel did not change at the end of the trading day and remained at the level of 69,787 rubles per ton.
Since September, a temporarily adjusted damping mechanism for fuel prices has been in place in Russia. The decision to adjust the damper parameters was made in a situation where, due to the prevailing ruble exchange rate and rising oil prices, it is more profitable for oil companies to export fuel, which put pressure on prices for consumers in Russia.
Exchange prices for fuel in Russia began to grow noticeably at the end of 2020; by the summer of 2021, the cost of its main types had updated historical records. Since February 2022, the cost of gasoline of the two most popular brands – AI-92 and AI-95 – has begun to actively decline. Experts attributed this to sanctions restrictions on the supply of oil and petroleum products to Western countries. The cost of diesel fuel on the stock exchange this year updated its record values in two waves – in January and at the end of July.