The price of diesel fuel on the exchange has reached an all-time high

The cost of diesel fuel on the St. Petersburg International Commodity and Raw Materials Exchange has reached its maximum in the entire history of observations since 2018, Kommersant found out. The Ministry of Energy of Russia, commenting on the situation, stated that the supply of diesel fuel in the domestic Russian market is twice the volume of consumption, while external factors affect the market, in particular the rise in oil prices, but this will not affect retail prices for diesel fuel.

Since the beginning of May, the exchange prices for fuel on the St. Petersburg Stock Exchange have grown by 5%, to 52.6 thousand rubles. per ton. This is the maximum in the entire history of trading. Vice-President of the Russian Fuel Union Rinat Fattakhov announced his intention to raise the issue of the rise in diesel fuel prices on June 16 at the FAS stock exchange committee.

“The dynamics of retail prices for diesel fuel will remain within inflation. The growing demand for diesel fuel in Russia is steadily provided by the current production, which is at twice the level of consumption, ”the Ministry of Energy said. According to the ministry, since the beginning of June, the shipment of diesel fuel to the domestic market has been about 108.5 thousand tons per day, which is 4% higher than in the same period in 2019, therefore, the lack of fuel at the filling station is “in principle excluded”. The Ministry of Energy notes that the main consumer of diesel fuel in the country remains the commercial sector, not retail.

The Ministry of Energy said that the domestic diesel fuel market is stable, but subject to macroeconomic factors. These include changes in world oil prices and export prices in the markets of Europe and the Asia-Pacific region, an increase in demand in the domestic market during vacations and the persistence of restrictions on air traffic.

Read more about the rise in prices for diesel fuel and the possible consequences – in the material of “Kommersant” “Diesel fuel made the European choice.”

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