Russian fuel crisis pushes some pump prices past 100 roubles

Independent filling stations in Russia have begun selling fuel for more than 100 roubles ($1.27) a litre for the first time, sources at retail chains said, as shortages caused by Ukrainian attacks on oil refineries drive an unprecedented surge in spot gasoline ⁠and diesel prices.

Intensifying strikes on ⁠Russian energy infrastructure have triggered fuel restrictions across much of the country, with particularly severe curbs imposed in much of southern Russia and Siberia, as well as all of Russian-occupied Ukraine.

Independent retailers approached ⁠the price threshold of 100 roubles per litre two weeks ago, but did not cross it because their software was not configured to advertise three-digit prices on display boards, the sources said.

By the end of June, worsening market conditions drove these filling stations to make the technical updates to be able to offer gasoline and diesel at up to 120-140 roubles per litre, according to the sources.

Prices at chain stations operated by vertically integrated oil companies are little different from pre-crisis levels: AI-92 costs about 63-66 roubles per litre, ⁠and ⁠AI-95 about 70-73 roubles per litre.

These companies are adhering to an informal understanding with regulators that price increases should remain within the pace of inflation, traders said.

The price disparity has led to fuel selling out quickly at oil-company stations, prompting them to suspend operations until the next delivery. On Sunday, President Vladimir Putin acknowledged that Ukraine's drone campaign had led to shortages, but said the authorities were dealing with the issue.

Russia's gasoline production has remained below ⁠the level of consumption since May, while diesel production has been roughly at the level of consumption, according to industry specialists' estimates.

SLOW WHOLESALE DELIVERIES FURTHER SQUEEZE SUPPLY

On the wholesale side, demand significantly exceeds supply with most purchase bids unfilled, industry sources said.

Sales volumes on the St. Petersburg International Mercantile Exchange (SPIMEX) of wholesale lots of AI-92 gasoline and diesel fuel are less than half their levels in June ⁠2025, while ‌AI-95 volumes ‌are down by about a third, the sources said.

Slow ⁠delivery is further squeezing supply. Sellers are regularly ‌postponing shipments and delays of one to two months have become the norm, exchange participants said.

Traders, meanwhile, said spot fuel ⁠supplies were available only at depots that received wholesale ⁠lots purchased on the exchange or that still have volumes stockpiled over the ⁠winter.

The price of such small wholesale lots, with immediate loading into a road tanker, is twice the average wholesale price on SPIMEX.