MOSCOW, 15 March – RIA Novosti. Average prices for gasoline at gas stations in Moscow have continued to grow for thirteen weeks in a row, and for the period from March 9 to March 15, AI-98 gasoline rose the most – by 9 kopecks, to 55.92 rubles per liter, RIA Novosti calculated based on data from Moscow Fuel associations (MTA).
Gasoline Ai-92, according to MTA, rose in price in the capital over the reporting period by 7 kopecks, to 44.81 rubles per liter, and AI-95 – by 5 kopecks, to 49.38 rubles. Diesel fuel also continues to grow in price continuously since the beginning of the year, in particular, for the period from March 9 to March 15, it rose in price by 2 kopecks, to 48.96 rubles per liter.
The prices for AI-92 and AI-95 gasoline were raised by the Moscow networks of gas stations Gazprom Neft, Shell, as well as Neft Magistral and Trans-AZS. Gasoline AI-98 went up in price at Shell and Oil Magistrali, and diesel fuel at the network of filling stations of Tatneft and Trans-AZS.
Following the meeting with the Deputy Prime Ministers of the Russian Federation Dmitry Grigorenko and Alexander Novak on the situation in the domestic market of oil products, on Wednesday it was decided to adjust the price of the domestic market set in the damper formula to the level of the actual growth rates of retail prices in 2019-2020, and also to use the actual growth rates retail prices for settlements in future periods.
The damping mechanism was created to contain fuel prices on the domestic market in Russia. In general terms, if the export price of gasoline and diesel fuel is higher than the conditional domestic Russian price, then the state will compensate oil companies for part of this difference so that they do not raise prices in the Russian Federation. And if Russian prices are higher than export prices, the oilmen share with the state part of their super-profits from domestic fuel sales.
Currently, indicative (notional) prices in the damper are indexed by 5% annually until 2024 inclusive. However, oil companies have repeatedly stated that the mechanism often does not take into account real market conditions, and such indexation is ahead of the inflation rate in the Russian Federation.