Gasoline prices will rise in Russia

Fuel prices will rise in 2024. Experts interviewed by Rossiyskaya Gazeta warn about this.

Analysts predict that prices could rise to the level of general inflation – up to 5-7%.

According to Finam FG analyst Sergei Kaufman, retail prices for diesel are now seasonally inflated due to the transition to winter diesel. Against this background, the expert expects prices at gas stations to decline by 2% starting in February. He added that retail gasoline prices have not yet fully recovered from the decline; in the coming months they may decline by another 1–1.5%. In general, in the coming year, an increase in fuel prices is possible at approximately the level of general inflation – up to 5%.

An uncontrolled rise in prices will not be allowed in Russia, reassures portfolio manager of Alfa Capital Management Company Dmitry Scriabin. He noted that the dynamics of retail fuel prices are under the close attention of the regulator. He cited Rosstat data, according to which, despite an almost two-fold increase from the beginning of the year to the end of September, exchange prices for fuel at gas stations, prices for gasoline increased by only 10% since the beginning of the year, for diesel – by 11%. Then prices dropped. In 2024, retail price growth will approximately correspond to inflation – about 7%, the analyst believes. He added that price reductions are also unlikely without directive intervention from the regulator.

At the same time, the general director of the analytical agency “Businessdrome”, the chairman of the “Support of Russia” committee on financial markets, Pavel Samiev, believes that growth is possible against the backdrop of an “oil rally.” He predicts that retail prices for gasoline and diesel will begin to rise in the spring, but this will not be a sharp increase, the expert is sure, writes the Banki.ru portal.