In Russia fell sharply, the wholesale price of gasoline because of lower fuel demand, resulting in it selling on the stock exchange became unprofitable. This writes RBC citing expert “analysis of commodity markets” (APR).
the Price of AI-92 at the St. Petersburg international Mercantile exchange (SPIMEX) from 13 to 19 April fell by 11% or 4.2 thousand rubles. As of April 20, ton AI-92 cost 35.77 thousand rubles. While the costs of oil companies, including various tax deductions and excise duties were higher – 38.07 thousand rubles. Thus, the oil companies bear a loss of 2.3 thousand from the sale of tons of fuel.
it is Noted that the drop in gasoline demand caused by restrictive measures in connection with epidemic of the coronavirus, which in larger cities has sharply reduced car traffic. According to the analyst of the savings Bank Andrey Gromadina, the producers agree to reduce wholesale prices and to provide additional discount on the stock exchange in the current market conditions.
According to the Asia-Pacific region, the situation in the fuel market may return to normal in may. Many oil companies plan to suspend the refinery. This will lead to reduction of oil refining by about 25% and active export of oil and petroleum products, which will result in a decrease of sales volumes of gasoline on the stock exchange and will cause the growth of stock prices.
Earlier, the Central dispatch control of fuel and energy complex recorded a decrease in the price of gasoline at the gas station since early April. CDU TEK, the national average from 5 to 12 April gasoline AI-92 has fallen in price on 0,04 rubles per liter. As reasons for the decline in price has been called the fall of oil prices.
see also: the Expert explained what it means for Russia a catastrophic decline in oil prices
