The Russian Ministry of Energy named the reasons for the rise in the price of gasoline at gas stations. The increase in the cost of petroleum products in retail in the first week of March is associated with a number of factors, including increased seasonal demand for fuel, as well as frost.

The department added that they continue to regularly monitor the fuel market and monitor the maintenance of final prices at a level close to inflation. According to Rosstat, fuel prices increased by 0.3 percent in the first week of March. For example, the average retail price of AI-92 gasoline increased by 11 kopecks – up to 44.38 rubles.

Earlier on Friday, March 12, the price of AI-92 gasoline rose at auction to 55.75 thousand rubles per ton, breaking the historical record in May 2018. During the trades, the cost of the AI-92 jumped by 1.71 percent. Since the beginning of the year, its price has increased by 12.33 percent.