Small private gas stations in Russia have for the first time started selling fuel at prices above 100 rubles (about $1.27) per liter, Reuters reported. According to traders, fuel shortages caused by Ukrainian attacks on Russian oil refineries have led to a sharp rise in the price of gasoline and diesel on the spot market, BTA reported.
The intense attacks on Russia's energy infrastructure have caused serious supply disruptions across much of Russia. The southern regions, Siberia and the Ukrainian territories occupied by Moscow have been hit hardest.
Small players on the market approached the 100-ruble per liter threshold two weeks ago, but initially failed to cross it because the price boards at gas stations were not adapted to display three-digit values.
However, by the end of June, the market situation had necessitated technical updates that allowed prices to be displayed between 120 and 140 rubles per liter.
Unlike small sites, prices at gas stations of large oil companies have remained close to pre-crisis levels. AI-92 gasoline is sold for about 63 - 66 rubles per liter, and AI-95 is at levels of 70 - 73 rubles.
According to traders, these companies are adhering to an informal agreement with regulators that price increases should not outpace inflation.
The significant price difference has led to a rapid depletion of stocks at gas stations of major oil companies, which has forced some places to temporarily suspend sales until further supplies arrive.
Russian President Vladimir Putin acknowledged a few days ago that Ukrainian drone attacks had contributed to the fuel shortage, but assured that the authorities were working to control the situation.
According to estimates by industry representatives, gasoline production in Russia has remained below the level of domestic consumption since May, while diesel production roughly covers demand.