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Russia’s Fuel Market Eases as Wholesale Prices Slide and Duma Advances Ethanol Excise Cut

Officials say export curbs are allowing bourse declines to reach gas stations.

Overview

  • On November 19, SPIMEX quoted AI-92 at 60,247 rubles per tonne (-0.64%), AI-95 down to 70,802, with most diesel grades also lower.
  • Rosstat reported average retail gasoline prices fell for November 10–17 by 0.2% to 65.21 rubles per liter, while diesel rose to 74.8.
  • Vice‑Premier Alexander Novak said the market has stabilized, pump prices have begun to edge down at independent stations, and further easing should follow with a lag.
  • The government’s temporary export bans remain in force through year‑end for gasoline (all exporters) and for diesel sold by non‑producers, alongside a decree adjusting the fuel‑damper through May 1, 2026.
  • The State Duma approved in a second reading a measure to zero the excise on denatured ethyl alcohol used in AI‑92 production to enable higher ethanol blending toward roughly 10%.