On the Saint Petersburg International Commodity and Raw Materials Exchange in Russia, the price of gasoline has exceeded 60,000 rubles ($657) per ton, marking the highest point since the end of September 2023, when gasoline prices in Russia began to decline after the temporary embargo on fuel exports was introduced.
This information is reported by the project Radio Liberty, Crimea.Realities.
It is noted that on March 1, 2024, Russia reintroduced a ban on fuel exports, but gasoline prices on the exchange continue to rise. The price of automotive fuel is increasing amid drone attacks on large oil refineries in Russia, causing them to halt operations.
Journalists' sources in the fuel market believe that the increase in exchange prices is solely due to concerns about the balance of supply and demand due to problems with the operation of oil refineries. The scale of losses incurred by the enterprises is unclear. If it turns out that primary oil processing units are damaged, not only the production of various grades of gasoline but also diesel fuel will decrease.
"The situation for the market is potentially serious, so buyers are hedging by purchasing goods," the source summarized.
As reported, on March 12 in Russia, a fire broke out at the Nizhny Novgorod Oil Refinery due to a drone attack, and the next day, drones struck the Ryazan and Novoshakhtinsk oil refineries. Earlier in 2024, due to attacks and equipment failures, other oil refining enterprises - Volgograd and Tuapse Oil Refineries - were also halted for unscheduled repairs. The Ilsky Oil Refinery was also temporarily shut down but soon returned to normal operation.
