What Are Gas Prices in Russia Right Now?
/ Go to the mediabankA Russian gas station. file photo 
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Oleg BurunovInternational oil prices increased shortly after the US and its allies slapped packages of sanctions on Moscow over its ongoing special operation in Ukraine. The surge was only natural, given that Russia retains its position as one of the world’s key energy suppliers. Gasoline prices in the US and beyond remain unpredictable despite recent minor falls in pump prices, especially now that Russia, one of the world’s main energy suppliers, has signaled its readiness to cut oil production in response to the EU’s price cap.
RussiaRussia Ready to Cut Oil Production in Response to Oil Price Cap, Deputy Prime Minister Says23 December, 04:10 GMTPump prices increased significantly following Western sanctions on Moscow shortly after it launched a special military operation in Ukraine in late February.But what about gasoline prices in Russia itself? Let’s take a look.
How Do Gasoline Prices in Russia Take Shape?
First and foremost, it should be mentioned that gasoline prices in Russia depend on a whole array of factors. The price for a liter of gasoline in Russia hinges on the following:Excise taxes (20%)Processing and delivery (18%)Oil company profits (13%)Gas station profits (9%)Tax on the extraction of mineral resources (8%)Cost of production of the oil itself (6%)Other factors (26%)
What Were Gasoline Prices in Russia Shortly After Sanctions?
The West’s anti-Russian sanctions that were imposed following the beginning of Moscow’s special operation in Ukraine on February 24 failed to prompt a hike in gasoline prices in Russia, where 92 Octane gasoline (Ai-92) and 95 Octane fuel (Ai-95) cost 45.9 rubles ($0.65) and 49.9 rubles ($0.71) per liter, respectively, at the time. A gallon equals 3.785 liters.
What are the Current Average Prices Across Russia?
The average consumer gasoline prices in Russia between December 12 and December 19 stood at 50.85 rubles ($0.72) per liter for Ai-95, according to the latest estimates of the Russian Federal State Statistics Service, Rosstat.
Where Did Prices Increase Most in Russia?
Rosstat singled out nine Russian entities which have seen an increase in gasoline prices over the past week.The price at the pumps grew most of all in the Kabardino-Balkarian Republic in Russia’s North Caucasus, by 0.4%.
Where Did Prices Fall?
A decrease in gasoline prices was recorded in ten Russian federal subjects within the same period, according to Rosstat. The most significant fall was registered in the Magadan region in Russia’s Far East, where prices dipped 0.6%.
What are Average Prices?
Over the past week, average prices for 92 Octane gasoline have fallen by one kopeck – the smallest Russian currency (0.70 cents) – and amounted to 47.21 rubles ($0.67) per liter.
EconomyRussian Oil Shipped by US Prior to April 1, 2023, Not Subject to Price Cap: US Treasury22 December, 09:58 GMTThe average price for 95 octane gasoline also shrank by one kopeck to 51.35 rubles ($0.73) per liter, while the price of 98 octane fuel (Ai-98) increased by one kopeck to 61.57 rubles ($0.88) per liter, Rosstat revealed.
What are Current Prices in Moscow and St.Petersburg?
At gas stations in Moscow, Ai-92 can сurrently be purchased at a price of 44.95 rubles ($0.64) to 48.81 rubles ($0.69) per liter, while Ai-95 is available from 49.95 rubles ($0.71) to 55.79 rubles ($0.79) a liter. Ai-98 currently costs from 61.4 rubles ($0.87) to 64.09 rubles ($0.91) per liter.In St. Petersburg, a liter of Ai-92 can be bought for 46.3 rubles ($0.66) to 49.03 rubles ($0.70), with Ai-95 in place for 50.45 rubles ($0.72) to 54.49 rubles ($0.78) per liter. Like in Moscow, Ai-98 is more expensive as it is available from 61.5 rubles ($0.88) to 64 rubles ($0.91) per liter.