Aviation Fuel Prices in Russia Reach 121,864 Rubles per Ton
The price of aviation kerosene in Russia has risen to a historic high amid attacks on oil refineries. On August 20, the price of aviation fuel at the St. Petersburg International Commodity Exchange reached 121,864 rubles per ton, which is 60% higher than at the beginning of the year. The over-the-counter price on August 19 was 110,401 rubles per ton, increasing by 8% over the week and 1.5 times since the beginning of the year. The price increase began in March due to reduced oil processing following attacks by Ukrainian drones. Since June 1, Russia has banned the export of aviation kerosene, with exceptions for technological aircraft and intergovernmental supplies. Sergey Tereshkin, CEO of Open Oil Market, noted that less aviation kerosene is produced by refineries compared to gasoline and diesel, making it difficult to increase supply. The lack of statistical transparency also creates an information vacuum, heightening market nervousness. The Russian Ministry of Energy expects aviation fuel production in August to be 4% higher than in July. Market specialists warn that prices may continue to rise until repairs at refineries are completed, although a decrease is possible closer to mid-autumn. At the same time, the impact on ticket prices will be limited, as prices are determined by the balance of supply and demand.
-- Price
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