In Russia, wholesale gasoline sales have fallen to a two-year low, prices are breaking records, and the shortage is worsening in the regions of the Russian Federation due to high demand among farmers and the shutdown of refineries after attacks by Ukrainian drones.

In Russia, wholesale gasoline sales have fallen to a two-year low, prices are breaking records, and the shortage is worsening in the regions of the Russian Federation due to high demand among farmers and the shutdown of refineries after attacks by Ukrainian drones.

Source: Russian newspaper Kommersant

Details: Sales of A-92 petrol on the St Petersburg Exchange fell by 21.7% to 15,600 tonnes on 16 September, the lowest level since 2023. Meanwhile, sales of A-95 fell by 15.5% to 12,060 tonnes compared to the previous day. Total gasoline sales on the exchange fell by 19.1% to 27,700 tonnes.

The report notes that the decline in gasoline sales on the exchange is directly related to unscheduled shutdowns at some large Russian refineries. However, the report does not mention the reason for the shutdown, which is likely to be attacks by Ukrainian drones.

According to the Russian newspaper Kommersant, refineries in the Russian Federation are declaring force majeure and are not shipping petrol, resulting in rapid depletion of local stocks.

Due to the fuel shortage on the exchange, independent petrol station chains are losing out to large chains, which are the suppliers’ priority.

On 16 September, two independent chains (about 20 petrol stations each) in Russia’s regions suspended retail sales and are now only selling petrol under long-term contracts.

The refinery shutdowns also coincided with increased demand. The decline in sales is particularly linked to high demand from Russian farmers during the busy harvest season in September-October.

“Market participants fear that gasoline supplies in September may be delayed due to unscheduled repairs at refineries, and that its significant sales in the last week of August are ‘not backed up by actual resources’,” Kommersant notes.

Background:

On the night of 15-16 September, units of the Ukrainian Armed Forces’ Special Operations Forces struck the Saratov oil refinery in Russia.On the night of 13-14 September, Special Operations Forces and Unmanned Systems Forces struck one of Russia’s largest oil refineries, the Kirishi oil refinery, in Leningrad Oblast.On 13 September, in Ufa, the capital of the Russian republic of Bashkortostan, drones of Defence Intelligence of Ukraine attacked the Bashneft-Novoyil oil refinery, causing a fire.

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