Russia:petrol prices flow against the market.

The wholesale prices began to unreasonably decrease.

By mid-summer the wholesale gasoline prices, having approached the highs of 2014, unexpectedly fell last week. Market participants attributed the fall to the activity of FAS and the fact that further growth is "politically undesirable" because it will inevitably be reflected in retail prices. Fundamental factors contributing to this trend are still not present, the production of petrol in the country is falling, fueling the tension in the market. But in late July the trend can be sustained - LUKOIL must commission the new unit at the plant in Nizhny Novgorod.

Last week the wholesale petrol prices fell unexpectedly after a month of continuous growth. Since the beginning of June to July 7th AI-92 at the SPIMEX exchange rose by 15% to 41.9 thousand roubles per ton. Within this period A-95 increased in price by 10.5% to 43 thousand roubles per ton, reaching a record high this year and came very close to last year's October highs. But over the past three days of last week petrol fell by almost 1.5%, despite the fact that the Belarusian fuel was hardly sold at the market.