Russia is preparing for a significant increase in the cost of gasoline and diesel fuel: the government plans to abandon the current system that links retail prices to inflation and switch to a more complex composite index. This opens the way for a more significant price increase in the coming years. This is reported by the Foreign Intelligence Service of Ukraine, writes UNN.
Details
The decision to change the approach to price regulation is explained by the deepening imbalances in the domestic market. In recent months, Russia has faced a number of problems: large-scale disruptions at energy facilities, an ever-widening gap between market wholesale prices and administratively restrained retail prices, as well as sanctions that limit access to equipment for modernization and repair of refineries.
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The new composite index, which is to be introduced, will take into account a much wider range of factors – from rising costs in the industry to changes in the state's socio-economic policy. It will include salary increases and minimum wage (which in 2025 should be $284.3), an increase in excise taxes and tax pressure, rising credit costs, rising utility tariffs and transport costs, as well as costs for modernization and repair of oil refineries.
In fact, this means a departure from the informal rule that fuel should not rise faster than general inflation.
Industry associations, including the "Fuel Union of Russia", support the new approach and already predict that in 2026-2027 retail prices may increase by 15-17%.