Wholesale petrol prices in Russia have hit record highs for the second day in a row after first breaking the September 2023 all-time high on August 4, and the fuel is in short supply in several regions as a result of Ukrainian drone strikes on refineries.
The crisis prompted Moscow last week to suspend exports of petrol so that it could keep refined products for the domestic market.
A regular seasonal price rise that began in the early summer accelerated sharply in August. Wholesale prices on Russia’s most common petrol grade (A95 or Euro 95) reached Rbs82,300 ($1,023) a tonne on Wednesday on the St Petersburg exchange, up 55 per cent since the start of the year and 8 per cent since the beginning of August.
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