Record-Breaking Fuel Prices in Russia and Their Impact on Regional Economy
Over the past year, fuel prices in Russia have been consistently rising, reaching new record highs for the 15th time.
According to the Saint Petersburg International Commodity and Raw Materials Exchange, on October 20th, the price for AI-92 gasoline surged to 74,336 rubles per ton, marking an all-time high within the year and an increase of 0.08%.
This phenomenon indicates significant fluctuations in the country’s energy market, which also impacts the domestic economy.
Additionally, the price of winter diesel increased by 0.2%, reaching 77,709 rubles per ton.
Jet fuel prices rose nearly 3%, to 80,203 rubles per ton, while fuel oil (mazut) increased by 0.61%, reaching 22,267 rubles.
Meanwhile, residents in temporarily occupied territories of Russia and Crimea are forced to pay with fuel coupons, highlighting severe shortages and logistical challenges in fuel supply.
The consequences of Ukrainian drone and missile strikes on Russian oil refineries and industrial facilities are expected to last until mid-2026.
Since August, Ukraine has launched at least 28 attacks on Russian oil refineries, leading to fuel shortages in various Russian regions and occupied Crimea.
Economist Oleg Sarkits notes that these strikes have a strategic effect — they dismantle not only financial resources but also Russia’s capacity to ensure energy security, increasing its reliance on domestic resources and posing additional challenges for the country.