Russia Fuel Prices Ease on New Wholesale Declines as Government Signals Further Relief

Overview

• Exchange data on November 19 showed further drops: AI‑92 fell 0.64% to 60,247 rubles per tonne, AI‑95 slipped below 71,000 for the first time since early July, and all diesel grades declined.
• Rosstat reported average retail gasoline prices fell for a second week to 65.21 rubles per liter for November 10–17, while diesel rose to 74.8; prices fell most in Kalmykia and Kabardino‑Balkaria (−2.2%) and rose in Khakassia (+5.3%), with Moscow and St. Petersburg up 0.1%.
• Vice‑Premier Alexander Novak said the market is stable and wholesale cuts will pass through to pump prices, noting early reductions at independent stations and citing closed exports, softer seasonal demand, and higher output after maintenance.
• Current measures include a gasoline export ban through year‑end, diesel export limits for non‑producers, and suspension of the fuel‑damper deviation threshold from October 1 to May 1 to support domestic supply and producer payouts.
• The State Duma approved in a second reading an excise exemption for denatured ethyl alcohol used in AI‑92 to enable higher ethanol blending toward 10%, while preliminary October data showed producer‑price increases for diesel (+11.6%) and AI‑98 gasoline (+11%).