Gasoline prices in Russia falling for the first time in a year - Bloomberg
Illustrative photo: gasoline prices in Russia have slightly fallen (Getty Images)
In Russia, gasoline prices at gas stations have started to decline for the first time in over a year, which has somewhat reassured Russian consumers. Until now, prices had only been rising amid Ukraine’s attacks on Russian refineries, Bloomberg reports.
Overall, the average retail gasoline prices across Russia fell by 0.2% from November 6 to 10. However, this is the first instance of a decline in gasoline prices since March 2024. Prices dropped in six federal districts of Russia, while in two others, prices continued to rise, though only slightly.
The decline can be attributed to seasonal lower demand and the resumption of operations at some Russian refineries that had been shut down for "maintenance." According to the outlet, since August, Ukrainian drones have struck Russian refineries at least 40 times, compared to just 21 times between January and July.
Amid attacks on refineries, the Russian government banned gasoline exports after a fuel shortage emerged in most regions of the country. At the same time, the government continues to openly lie about a "stable market situation."
Nonetheless, the outlet suggests that, given the ongoing drone attacks in Russia, fuel processing volumes are expected to fall. Average refining volumes in the first half of 2026 are estimated at 4.9 million barrels per day, 0.4–0.6 million barrels lower than usual.
According to media reports, Russia is now forced to use reserve capacities at its refineries due to continuous Ukrainian drone strikes. Refining in Russia is believed to have decreased by at least 6% because of Ukraine’s attacks on refineries.
Additionally, due to Ukrainian drone strikes and broad Western sanctions, Russia’s oil revenues have fallen below last year’s levels. In October, Russia earned only $13 billion from the sale of oil and petroleum products.
