Russia predicted a new spike in gasoline prices


Photo: Maxim Bogodvid / RIA Novosti

Wholesale gasoline prices in Russia rose to a record in 2012, reducing the supply on the stock market from the oil companies provokes the rising cost of fuel for consumers. On Thursday, March 29, writes RBC with reference to the “Council of commodity markets” (SPTR), which brings together traders of petroleum products.

Wholesale gasoline prices on the St. Petersburg commodity exchange rose to a record in 2012, the report says. In Moscow, gasoline prices are also matched to historical highs. Since the beginning of March AI-92 has risen in price by 7.8 percent since the beginning of the year — 8.8 percent, AI-95 — 9.5 and 12 percent, respectively.

The oil companies artificially limit the supply in the stock market to create shortages and rising prices in the stock market, and gas stations, and end users. Oil companies prefer to export the fuel, reducing the supply to the exchange, believe in SPTR.

In addition, manufacturers accumulated stocks of gasoline on 1 April to be ready for the period of the shutdown of oil refineries for repairs. “If this trend will continue, prices at the pump in three months can add up to five rubles per liter or independent gas stations simply cease to trade fuel”, — noted in the Council.

Oil companies say they comply with the regulations on provision of internal market with fuel. At the same time to discourage exports when domestic prices are much lower, they are not ready. “We are in a period went against the authorities and did not raise fuel prices, even reduced them, because the country had an election. And now we need something to compensate,” said a spokesman from state-owned companies.

According to Rosstat, last year gasoline prices rose by 7.3 per cent, which is almost three times higher than the officially announced inflation at 2.5 percent.

Video, photo All from Russia.


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