Exchange prices for gasoline and diesel fuel went into correction: on June 17, AI-95 fell in price by 2%, returning to the values of early June, and diesel fuel – by 3.7%. This may be due to the withdrawal of some large refineries from trading and the fixation of remaining bids at low prices, as well as the restriction of limits on increasing quotes. In small wholesale, at the same time, fuel prices remain record high.
Following the results of trading on June 17 on the St. Petersburg Exchange, the cost of AI-95 according to the index of the European part of the Russian Federation decreased by 2.08%, to 75.40 thousand rubles. per ton. Quotes returned to the level of early June. The price of AI-92 remained unchanged – 70.28 thousand rubles. per ton. Summer diesel fuel fell in price by 3.71%, to 73.14 thousand rubles. per ton. The wholesale cost of AI-95 and diesel fuel has been decreasing since June 15.
As a source in the industry explains to Kommersant, the correction of the indices is due to the fact that some large refineries left the auction, and the bids of the remaining players were recorded at lower prices, which led to a decrease in the weighted average indicators.
Gazprom Neft adjusted the planned volumes of wholesale sales from the Moscow Refinery (MNPZ) in June to zero for all types of fuel, according to data from the St. Petersburg Stock Exchange. According to the National Exchange Pricing Agency, on June 16, there were no offers of gasoline with delivery from the Moscow Refinery at the auction. Moscow Mayor Sergei Sobyanin reported on June 16 that the facility on the territory of the Moscow Refinery was damaged as a result of a UAV attack.
The agency’s review states that on June 15 there was no supply of diesel fuel from stations near the TANECO plant (part of Tatneft). As the press service of the head of Tatarstan Rustam Minnikhanov reported, on June 12, a petrochemical complex enterprise was also hit by UAVs. As media reported, Tatneft introduced restrictions on the sale of gasoline and diesel fuel at gas stations in a number of regions.
On June 16, at the St. Petersburg Exchange, sales of AI-92 decreased by 9.8%, to 11.58 thousand tons, AI-95 – by 31.9%, to 7.68 thousand tons. The volume of unsatisfied effective demand amounted to 30.36 thousand tons and 18.48 thousand tons, respectively, follows from the review of the exchange agency.
NEFT Research Managing Partner Sergei Frolov associates exchange price dynamics with tightening trading rules, which created conditions for an active reset of positions and led to a drop in quotes.
On June 16, the St. Petersburg Exchange limited the limit on the increase in prices for AI-92 and AI-95 gasoline from 0.1% to 0.01% per day. The reduction step remains at 3%. According to the analyst, if strict limits on growth are maintained and the external environment is weak, prices may continue to decline. At the same time, he continues, seasonal growth in demand, logistical difficulties or repairs at refineries can turn the market upward.
The correction in stock prices may be associated, among other things, with information about the abolition of limits on the sale of fuel at some gas stations by a number of companies, which helps reduce tensions, says Dmitry Scriabin, portfolio manager of Alfa Capital Management Company. In addition, the expert notes, the exchange price of diesel fuel has approached the cut-off threshold for damper payments, which serves as an economic barrier to further growth in quotations. Kirill Bakhtin, head of the center for analytics of Russian stocks “BCS World of Investments”, allows for a further correction in wholesale prices for diesel fuel following global oil prices and premiums for petroleum products.
But, according to one of the market participants, in small wholesale the cost of fuel reaches record levels, significantly exceeding stock indices.
Thus, according to him, the difference with exchange prices for diesel fuel exceeds 50 thousand rubles. per ton, for gasoline – up to 30 thousand rubles. per ton. In some regions, in particular in the Far East, small wholesale quantities of diesel fuel are offered for 180 thousand rubles. per ton, adds Kommersant’s interlocutor.
Retail fuel prices also continue to rise. According to OMT Consult, the average price of AI-92 at Russian gas stations on June 8–15 increased by 97 kopecks, to 66.07 rubles. per liter, on AI-95 – by 89 kopecks, up to 71.58 rubles. per liter
