Expert tells what to expect from petrol prices in Russia by the end of the year
Sergey Tereshkin, CEO of the oil products marketplace Open Oil Market, predicted what to expect from gasoline prices in the Russian Federation by the end of the year.
According to the forecast, the rate of growth of fuel prices will be lower than in the summer period.
The expert explained that oil companies intend to contain the cost of fuel in order to achieve the lifting of the current ban on gasoline exports, RIA Novosti writes.
According to Rosstat, at the end of October the average price of a liter of gasoline was 59.19 rubles, showing an increase of 0.19% over seven days. In the summer, the growth rate reached 0.6% per week.
However, according to Tereshkin, a significant increase in prices before the end of the year is unlikely.
Oil producers are interested in stable gasoline prices and are counting on the easing of export restrictions.
Among the factors influencing cost, Tereshkin names the costs of oil companies associated with forced downtime of oil refineries.
Thus, in the first eight months of 2024, the profitability of Russian oil refineries fell by 34%, which led to an increase in wholesale and retail prices.
Tereshkin assumes that there will be no significant increase in gasoline prices by the end of the year. However, much depends on the possible lifting of export restrictions.
