A new surge in gasoline prices has been recorded in Russia.

      On the St. Petersburg International Commodity and Raw Materials Exchange, the price of AI-92 gasoline reached 72.7 thousand rubles per tonne, and AI-95 — 81.3 thousand rubles, surpassing last year’s highs, reports Kommersant. The government’s attempts to hold prices down through an export embargo had no noticeable effect: unlike 2023, there was no sharp drop in prices.

      The main reason for the shortage is a nearly 10% decline in production due to maintenance and unplanned shutdowns at refineries. Average daily output in August was 102.2 thousand tonnes compared with 123.6 thousand tonnes in January. Stocks on the market fell to minimal levels, which immediately triggered a price rise.

      The situation is most difficult for independent gas stations: sales margins have gone into the red, and some operators warn of the risk of closure. In a number of regions there are already supply disruptions, especially for AI-95.

      The government is discussing additional stabilization measures, including adjusting the fuel price damping mechanism, increasing minimum volumes of exchange sales and new pricing rules. However, experts believe that a sustainable solution is possible only after refinery modernization and an increase in domestic capacity, which are not expected before 2026.