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Gasoline Prices May be Substantially Raised
June 2, Moscow and Moscow Region are facing a new danger of rise in gasoline prices, Vedomosti newspaper reports.
The city gas stations are threatening to raise their prices 8-12% depending on the brand already this month. Experts predict that prices will stop growing only by fall, when the demand for gasoline decreases. However refuellers think that prices may lower earlier if customers are not able to afford new prices.
According to Georgy Sergienko, executive director of the Moscow Fuel Association (MFA), this week brought a new rise in wholesale prices in the region. So AI-92 gasoline has risen from 13. 125 rubles to 13. 400 rubles per ton. AI-95 – 14.150 to 14.300 rubles per ton. Sergienko also mentioned that the wholesale prices had been steadily growing since early March approximately by 100-300 rubles per ton a week.
At the same time, retail prices remained steady since the third decade of April and began growing only a month later by 15-20 kopeks per liter. Now, retail prices have run out of their reserve and the dealers are beginning to raise prices. At Sergienko’s estimate, the low-octane gasoline at Moscow stations will rise 40 kopeks per liter (4%), and the high-octane – 30 kopeks (2, 5%).
According to Kortes oil market research center, since beginning of May the market prices in Moscow and Moscow Region have already risen: low-octane – by 3.4%, AI-92 – by 6.7%, AI-95 – by 6.3%. The center expert notes that the mineral oil resources at the storage depots bought in April for low prices have run out, so the retail prices will follow the rise of the wholesale.
According to Grigory Sergienko, the wholesale prices for mineral oils are rising because of the shortage of fuel and high cost of oil at the internal market. “If by the end of April a ton of the raw material cost 3350-3500 rubles, a month later it became 3900-4300 rubles – that’s the result of unrestrained export growth.”
Meanwhile, in the opinion of the representative of a Moscow oil and gas company, the prices will continue growing until they hit the ceiling of the paying capacity. “It’s possible that it is already at hand, - said the interlocutor. – In May we raised the prices on our stations by approximately 30 kopeks, but then some of them suffered the fall of sales volume as a consequence. Therefore, they were forced to make certain reductions.”
According to MFA the prices for low-octane gasoline may grow in June by 12.3% and for AI-92 – by 8.7%, for by AI-95 – 8%. At present prices for those brands in Moscow average at 9.75 rubles, 12.64 rubles, and 13.64 accordingly.
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