Russia’s Gasoline Prices Surge to Record High on Refinery Attacks

Russia’s domestic gasoline market is under mounting pressure, with prices hitting a new record high despite an emergency export ban aimed at stabilizing supply. The price of Ai-95 gasoline surged past 77,000 rubles ($946.6) per ton on the St. Petersburg International Mercantile Exchange (SPIMEX) on August 4. The latest spike follows Ukrainian drone strikes on August 2 that damaged multiple oil refineries across Russia, cutting processing capacity by around 40,000 tons of crude per day. Facilities in Ryazan, Penza, Samara, and Voronezh Oblasts…