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Gas Will Get Cheaper This Year
Gasoline will fall slightly in price in Russia before the end of the year, Gennady Shmal, president of the Union of Oil & Gas Producers of Russia, told Rossiiskaya gazeta newspaper. The retail price of gasoline may fall by 1 ruble per liter, he said. The gasoline on sale now in Russia was made from expensive oil, he explained. Falling oil prices will lead to falling gasoline prices.
Shmal is predicting that the savings will be short-lived, however. “After New Year, I think it will go back up,” he told the newspaper.
World oil prices have fallen sharply since July, which was immediately felt in automobile and airplane fuel prices in other countries. Gasoline cost $1.08 per liter in the United States in July, whereas last week it cost $0.50, and as little as $0.44 in some areas. In Russia, which is one of the world leaders in oil production, there has been practically no reduction in the price of gasoline.
www.kommersant.com
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Photo: Viktor Poljakov