From February 9 to 13, the wholesale price of AI-92 gasoline increased by 6.9%, reaching 62,431 rubles per ton, while the price of AI-95 rose by 5.8%, reaching 63,545 rubles per ton. This sharp price jump is the first since July 2022.
On the St. Petersburg exchange on Monday, AI-95 quotes reached a two-month record, amounting to 63,787 rubles per ton, while the price of AI-92 slightly decreased by 0.3%, totaling 62,096 rubles per ton.
According to traders, the main factor contributing to the rise in wholesale market prices was the renewed attacks on oil refineries. On Wednesday, following a drone strike, gasoline production was halted at the Volgograd refinery, which has a capacity of 13 million tons per year and is among the largest in Russia. On Thursday morning, another attack led to a fire at the Ukhta refinery.
“First Volgograd, then Ukhta... Clients began to actively place orders,” commented one source to Reuters. Another source reported that the exchange received information that the Volgograd refinery would not supply fuel until March, but the exact timeline for restoring operations remains unknown. There is a possibility that the plant may resume shipments as early as next week.
“If production resumes next week as promised, prices may return to previous levels,” noted one trader.
The publication also mentions that last year, Russian oil refineries were attacked by Ukrainian drones more than 81 times. This led to the industry losing between 10% and 20% of its capacity by early autumn, and downtime in primary oil processing reached historic highs.
This situation has caused a serious fuel crisis in various regions, from Kamchatka to Central Russia, resulting in queues at gas stations, fuel shortages, and the resumption of gasoline sales by coupons. As a result, at the end of the year, oil supplies to refineries fell to a 15-year low, and the losses of oil companies from drone attacks exceeded one trillion rubles.
