The Rise in Petrol Prices in the rf Is Fueling a New Wave of Inflation

Petrol prices in the rf are rising – retail prices have risen by 18 % year-on-year, and are expected to rise by another 8 % by the end of 2025. This will become a new catalyst for the overall growth of consumer prices.

The key factors are the delayed inflationary effect (9.5 % in 2024 and 10.2 % in January-April this year), increase in excise taxes (+4 %), reduction in budget subsidies to oil companies, and increase in “transneft”’s transportation tariffs (to +10 %).

Against this background, russia has almost halved its sea exports of petrol – in May, it declined to 130 thousand tons, which is by 47 % less than a year ago.

The rise in fuel prices will inevitably affect prices in logistics, manufacturing and retail –inflationary pressure on the economy of the rf will only increase in 2025.