Magadan Oblast introduces new pricing to curb soaring fuel costs

Fuel prices in Magadan Oblast have risen sharply, prompting action from local authorities. The cost of AI-95 gasoline increased by three rubles per litre on 30 June, reaching 82.15 rubles at petrol stations. Officials have now introduced a special regime to stabilise the market. A spike in exchange prices caused the initial surge. Temporary instability in Russia’s fuel market forced suppliers to raise costs. The regional government had previously frozen prices for AI-92 and AI-95 until July, but the freeze ended as planned.

Authorities and suppliers have now switched to a weighted average pricing system. This allows retail costs to adjust gradually, preventing sudden shocks. For AI-95, the weighted average price has been set at 85.15 rubles per litre. Supplier Kolymanefteprodukt also increased prices in stages to protect consumers from abrupt changes.

The weighted average price for AI-92 has not yet been finalised. However, officials expect its increase to remain below the rise seen for AI-95. The new pricing system aims to smooth out fluctuations and avoid panic buying. AI-95 is currently sold at 82.15 rubles per litre, with adjustments ongoing. The measures reflect efforts to manage volatility in the local fuel market.