Petrol Prices Rise Despite Record Payments to Oil Companies. Situation at Fuel Stations - RG Review

With the introduction of the damping mechanism, the mineral extraction tax (MET) for oil companies was increased, which is how these payments were funded. Notably, all oil-producing companies pay the MET, but only those owning the largest refineries receive the damping payments. Therefore, it is not accurate to perceive the damping as a "money grab" from other sectors of the economy. This year, the situation has unfolded in such a way that oil and gas revenues have decreased, while the damping has increased.

For the entire previous year, payments under the damping mechanism amounted to 881.8 billion rubles. For the first nine months of this year, the amount has already exceeded 1.2 trillion. High payments were noted in 2022 and 2024, but during those times oil and gas revenues were setting records. However, by the end of the first nine months of this year, the treasury received 17.2% less from the sector than in the same period of the far-from-record year of 2025.

In total, in September, 870.9 billion rubles in oil and gas taxes were collected into the budget, but only 452.4 billion rubles were sent to its revenue part. The remaining 418.5 billion rubles were returned to oil producers in the form of compensations and subsidies, the majority of which were accounted for by the damping mechanism.

Despite the record damping payments in September, according to Rosstat, retail gasoline prices continued to rise, increasing by more than 1% for the month (21.2% since the beginning of the year). The situation with DF is better, as diesel prices dropped by almost 2% in the month, but the increase since the beginning of the year has reached 14%. Inflation from the beginning of the year to the end of September was 4.93%. On the stock exchanges in September, gasoline and diesel prices significantly fell (by 6-10%) compared to the peaks in August, but this drop did not reflect in retail prices.

As noted in a conversation with "RG" by Yuri Stankevich, the Deputy Chairman of the State Duma Committee on Energy, the damping compensates for the difference between internal and external prices specifically at the wholesale level. However, the price at gas stations (GS) comprises not only the cost of purchasing fuel. It incorporates logistics, rising costs of equipment maintenance, electricity, labor costs, as well as the network's own margin. Additionally, GS bear expenses for maintaining prices over previous months at the expense of their profits.

Damping payments are made to refineries, not to gas stations. Therefore, the impact on retail prices is only indirect. That said, considering the record size of the payments, a greater impact on gas station pricing was expected. This did not occur for several reasons.

According to Sergey Frolov, managing partner of NEFT Research, the increase in fuel prices in Europe (the damping calculations are still based on Rotterdam prices) and the increase in gasoline imports played a role. Consequently, the price ends up being higher than the European one, as logistical costs and premiums for sanctions and other risks are added to high global market prices. With these conditions, the damping falls short when supplied through imports. In other words, trading occurs at a loss. Independent players (gas stations not owned by large oil companies) cannot afford such losses. The price increases at independent or franchise GS primarily lead to a rise in the average price index, the expert emphasizes.

Stankevich believes that the influence of fuel imports should not be overstated. The reason for the increase in damping payments was not imports but a sharp rise in global oil and petroleum product prices. In September 2026, against the backdrop of rising global quotes and a weakening ruble, export prices for fuel were abnormally high compared to the regulated domestic market, leading to the historic record of compensations. Fuel imports, in this case, are not a driver of payments.

The average price of A-92 gasoline in Rotterdam in August 2026 rose by 2% compared to the previous month, while DF rose by 10%, reports Sergey Tereshkin, CEO of Open Oil Market. However, due to the ruble's depreciation, the price of the export alternative (export price minus costs) increased even more: for A-92 gasoline - by 9%, and DF by as much as 19%.

The expert is confident that if not for the weakening ruble, the damping payments calculated with a one-month lag would not have exceeded 300 billion rubles.

He does not rule out that in October 2026 (the payments will be for September), damping payments may rise even further, as the average exchange rate last month was 85.1 rubles per dollar compared to 83.2 rubles in August and 77.9 rubles in July. Tereshkin does not anticipate a significant decrease in retail gasoline prices but allows for some stabilization, as is already happening with diesel prices.

According to the Deputy Chairman of the Supervisory Board of the "Reliable Partner" Association, and member of the expert council of the "Gas Station of Russia" competition, Dmitry Gusev, the key issue in the industry right now is the volumes of oil refining, not prices. In his opinion, there are no incentives for the construction of new refineries, including where they are urgently needed - in the east of the country. Taxes from the oil sector are collected at the extraction stage, export duties have been zeroed, and companies can do whatever they consider necessary with this oil - export or refine it, noted Gusev.

A car owner from Rostov demanded a gas station to refund her overpayment for fuel, and her demands have already been supported by the antimonopoly service. If the gas station operators do not return her money, the Rostov resident is prepared to seek justice through the courts.

In August, Irina Yakimiv faced a dilemma: to refuel at reasonable prices after waiting in line or to fill up freely but at a high price.

"I was in a hurry on business and stopped at one of the gas stations. The price for 92-octane gasoline was over one hundred rubles, but I had to refuel. I also encountered completely outrageous prices - 180, 200 rubles per liter," Irina shared.

The Rostov resident decided not to let the matter go easily and filed a request with the Antimonopoly Service asking to investigate what she viewed as unjustified markup on fuel prices.

In her appeal, Irina Yakimiv noted that she considers the rise in fuel prices in Rostov-on-Don to be unfounded, specifically pointing out occurrences at the "Ajax" gas stations in the Rostov region.

Ultimately, her claims were acknowledged: the Rostov Region FAS reported that the department continually monitors pricing in the petroleum products market and has already found instances of overpriced fuel at two regional gas stations. They were issued official warnings, demanding rectification of the situation.

However, the outcome was only partially satisfactory for Yakimiv. "I prepared a pre-trial claim asking for a refund for my losses. We took the average price for the region and the one charged at the gas station. It resulted in about a thousand rubles overpayment," she told "RG".

At the same time, the woman emphasizes: the issue is not about the amount, but about the principle: she wants to set a precedent so that unscrupulous gas station operators stop artificially inflating prices.

Should "Ajax" refuse to settle the matter voluntarily, the Rostov resident intends to continue her pursuit of justice in court. "Who guarantees that they won't return to this practice in the future?" Irina Yakimiv asks.

Source: RG.RU