Retail gasoline prices in Russia continued to rise in August, gaining 0.1 percent last week, according to Rosstat. The cost of fuel at the pump gradually wins back the rapid rise in wholesale prices in June and July, although August in the opt, she moved to decrease. The increase in retail prices will continue, experts say, it is necessary to restore margins of gas stations now sell fuel at a loss.Retail gasoline prices on average in the country increased last week by 2 kopecks, or 0.1%, from the data of Rosstat. Thus, the average cost of gasoline AI-92 rose by 2 kopecks, to RUB at 43.1 per 1 liter, AI-95 — 3 COP., to 46,86 rubles for 1 L. Since the beginning of the year prices rose 2%, or about 1 RUB In this case the vast majority of this growth taking place in June—July.The increase in the cost of fuel at filling stations this year due to higher prices in the wholesale segment in may—July, which reached 27% for AI-92 and more than 50% of AI-95. It was caused by an abrupt exit from the quarantine due to low gasoline production at the refinery (as in March—April, the demand for fuel was low and loading plants was reduced).Plus, the traditional beginning of the holiday season flights were not restored and the demand for fuel, especially gasoline, in July exceeded last year due to a spike in domestic tourism.Only at the end of July, oil companies have managed to balance the market, which they almost entirely stopped the export of gasoline. Since early August, prices in the wholesale segment began to decline and had dropped to 10% for AI-95, to 49.5 thousand rubles per ton (see “Kommersant” on August 10).But for petrol, the situation remains complicated: the gas stations still need to sell stocks purchased 45-60 days ago at high prices. As stations raised the price tag is proportional to the increase in wholesale prices since June, they are actually losing money with each sold litre. For those stations, which are part of large oil companies, it didn’t matter: they have earned in the wholesale segment more than lost in retail. But for independent gas stations for the last two months were a difficult period, and it is therefore independent of the network, as a rule, first raised the prices.According to “Petromarket”, last week the retail price of AI-92 and AI-95 have increased relative to July 31, 4 kop. and 5 kop. per 1 l, respectively. Net sales margin of AI-95 at the gas station have increased during the week by 5 kopecks, to minus 1.1 RUB per 1 liter, for AI-92 remained at the level of minus 0.9 RUB per 1 L. the Problem of loss of retail trade of gasoline can be resolved in the near future, if the wholesale price that reacts with some delay on the dynamics of producer prices to decline after the price of the refinery, the company said. According to the “Petromarket”, total net sales margin of AI-92 in the wholesale and retail channels already out in the stable plus.But somethat fear can cause a decrease in fuel production, which occurs in August. Thus, according to Rosstat, the production of gasoline last week fell by 3.2% compared to the end of July, reaching 799,7 thousand tons.For oil companies refining fuel at current prices for oil remains less attractive than the export of oil, and load oil refineries mostly unprofitable. If this trend continues, and demand for gasoline remains strong, it can lead to new growth in wholesale prices in September, ahead of seasonal maintenance on oil refineries.Yuri Barsukov, Dmitry Kozlov
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