HomeMediaLatest NewsThe rise in fuel prices in the EU should not affect Russia

The rise in fuel prices in the EU should not affect Russia

05 February 2024

Kondratiev Sergey V. Principal Director on Economic Studies, Head of the Economic Department

Sergey Kondratiev, Principal Director on Economic Studies at the Institute for Energy and Finance, commented to Rossiyskaya Gazeta on the prices of motor fuels in Russia.

According to Sergey Kondratiev, the increase in prices for diesel fuel (most of all we export it and fuel oil) In Europe and the Asia-Pacific region, export prices are rising.

At the end of January, diesel fuel prices in the Mediterranean increased by 10% (to $ 890 per ton), but now they are trading only 3-4% above January levels. Therefore, this price jump is unlikely to have any noticeable effect on the growth of prices on the stock exchange and on the retail cost of fuel in Russia. Exchange prices are now (at the moment) more influenced by the level of fuel supply from refineries and the actions of the regulator, Kondratiev believes.

Kondratiev Sergey V. Principal Director on Economic Studies, Head of the Economic Department
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