Fuel Crisis in Oil-Rich Russia Worsens: Record Prices and Dwindling Stocks
The price of fuel at independent petrol stations in Russia has officially exceeded 100 rubles (Rp 22,769.60) per litre for the first time in history. This unprecedented price surge is triggered by a massive shortage of petrol and diesel supplies, following a series of Ukrainian drone attacks that have crippled many Russian oil refineries.
According to a Reuters report on Wednesday (01/07/2026), the intensification of Ukrainian strikes against Kremlin energy infrastructure has prompted fuel quota restrictions across most of Russia. Strict supply rationing policies have been implemented in southern Russia, Siberia, and all Ukrainian territories currently occupied by Russian forces.
Independent retailers had been approaching the 100-ruble threshold for two weeks but were held back because their digital signboards were not configured to display three-digit numbers. However, worsening market conditions at the end of June forced station operators to perform technical software updates to sell petrol and diesel in the new soaring price range of 120-140 rubles (Rp 27,324 - Rp 31,878) per litre.
The opposite situation is occurring at state-owned integrated oil company networks, where the price of AI-92 petrol is still held at around 63-66 rubles (Rp 14,354 - Rp 15,000) and AI-95 at 70-73 rubles (Rp 15,950 - Rp 16,633) per litre. This wide price disparity has caused fuel stocks at state corporate stations to be snapped up by citizens instantly, forcing management to periodically shut down pumps while awaiting the next tanker delivery schedule.
“The Ukrainian drone campaign has caused shortages, but the authorities are handling the problem,” Russian President Vladimir Putin admitted on Sunday.
Industry experts note that Russia’s petrol production volume has continued to fall below national consumption levels since May, while diesel production is only barely sufficient to meet basic needs.
In the wholesale market, demand levels are reported to far exceed supply capacity, with most purchase offers from agents unable to be fulfilled by producers. Sales volumes for AI-92 petrol and diesel on the St. Petersburg International Mercantile Exchange (SPIMEX) are reported to have plummeted to less than half of the sales levels seen in June 2025, while AI-95 volumes have dropped by about a third.
The crisis is compounded by slow logistics delivery processes in the distribution chain, with sellers routinely delaying commodity shipment schedules. Market participants revealed that delivery delays of one to two months have now become the new norm amid the gridlocked Russian energy supply chain.
Traders added that ready-to-use fuel stocks are currently only available at storage depots that receive wholesale lots from the exchange or those still holding reserves stockpiled from last winter. Due to the scarcity of goods, the price of small wholesale lots ready for immediate loading into road tankers has now soared to double the average normal wholesale price on the SPIMEX exchange.