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Gasoline Prices Surge in Russia After Ukrainian Attacks

Bloomberg Markets •
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Russian gasoline prices surged during the first week of June, climbing 1 % to 69.11 rubles ($0.95) per liter, the steepest rise since early January. The jump follows a wave of Ukrainian strikes that crippled nine of Russia’s ten largest refineries, forcing the state to cap sales and curb exports.

Five of eight federal districts, notably the Southern and North Caucasus, saw accelerated price hikes, while Moscow and two other regions recorded a modest slowdown. Government measures include easing quality standards and temporarily banning canister sales at major refineries like Rosneft and Tatneft to mitigate fuel inefficiencies during summer travel season and control.

The 6.6 % annual rise in gasoline prices this year outpaces general inflation at 3.68 %, amplifying social pressure. Long lines have appeared on the Moscow–St. Petersburg corridor after attacks on the capital’s refinery, while Tatneft imposed station limits following a strike on its Taneco plant in Tatarstan and other refineries have also restricted sales to prevent fuel shortages.

Moscow officials eased domestic gasoline and diesel quality standards for some refineries, while Rosneft temporarily halted canister sales amid “increased seasonal demand.” The Kremlin’s move signals that fuel volatility will continue until parliamentary elections, forcing the government to curb price spikes and keep public order during the summer travel season and through the winter rush.