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Regular gasoline prices record high at SPIMEX — trading data

At the same time, furnace fuel oil prices lost 9.8% to 21,410 rubles per tonne

MOSCOW, July 20. /TASS/. Territorial exchange indices of 92-octane (Regular) gasoline blend set a new record at the St. Petersburg International Mercantile Exchange (SPIMEX), according to trading data.

The Regular 92 blend prices added 0.8% to reach 56,750 rubles ($761.7) per tonne. The Premium (95-octane) gasoline prices hiked by 0.5% to 59,500 rubles ($798.1) per tonne. The LPG exchange price gained 0.8% and totaled 38,820 rubles ($520.6) per tonne. At the same time, furnace fuel oil prices lost 9.8% to 21,410 rubles ($287.2) per tonne.

Diesel fuel, fuel oil and LPG prices repeatedly set new historical records at SPIMEX in 2021.

The increase in exchange prices of gasoline and diesel fuel is conditioned in the first instance by rising demand for petroleum products and by continuing concentration of such demand on the exchange, SPIMEX President Alexei Rybnikov told TASS. "On the one part, the increase in prices is a seasonal phenomenon we observe every year. Further influence in this year is from growth of the economy, which is recovering against last-year lockdowns, and domestic tourism growing in conditions, when borders are still actually closed," Rybnikov said.

On the other side, SPIMEX continues concentrating petroleum products trading. Each fourth tonne of oil products in Russia was traded on the exchange as of 2020 year-end and the amount of trading in petroleum products at SPIMEX gained 16% against the first half of 2020. "The exchange at present is a very significant element of the fuel market infrastructure because exchange trading is quick, reliable, convenient and remote, which is important in the pandemic environment. The over-the-counter market largely follows exchange prices," the SPIMEX President said.