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Experts expect stable fuel market, prices in Russia in 2024

Infotek expert Alexander Frolov added that the stable state of the market is confirmed by statistics - fuel production and trade do not show any abnormal deviations or price changes

MOSCOW, May 8. /TASS/. The situation on the fuel market is likely to remain stable in 2024, as the government has taken all necessary preventive measures. As a result, price increases at gas stations are unlikely to exceed the annual inflation rate, according to experts interviewed by TASS.

Deputy Chairman of the Supervisory Board of the Reliable Partner Association Dmitry Gusev noted that the fuel market has been stable for quite some time and the government is taking preventive decisions to balance it.

"Retail prices are practically fixed, small wholesale prices are under constant control of the antimonopoly service in terms of price increases. Currently, about 100 oil depots are being checked for excessive small wholesale prices. Therefore, with the current level of control and without changing the tax component, we should not expect any increase or decrease in prices," he noted.

Infotek expert Alexander Frolov added that the stable state of the market is confirmed by statistics - fuel production and trade do not show any abnormal deviations or price changes. Moreover, the production of gasoline currently exceeds consumption, which has a positive effect on price dynamics.

In addition, the fact that Russia has accumulated considerable fuel reserves amid fears after an attack on its oil refineries by Ukrainian drones is also positive.

"Now we see that despite the high season, prices are actually falling and domestic demand is being met in the required volumes," Frolov said.

"If current parameters and production volumes and demand remain the same, we can expect price increases to be within the limits of annual inflation," the expert concluded.

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