The price of gasoline in Russia has surged to record highs after Ukrainian drone strikes took out at least three major refineries, as the war between the two countries rages on.
Since the start of the year, the price of AI-92 gasoline is up 38% and that of AI-95 gasoline is nearly 49% higher, The Moscow Times reported Monday, detailing the drone damage done to vital Russian refineries:
“The surge comes after attacks this month knocked out operations at three major refineries: Rosneft’s Novokuybyshevsk plant on Aug. 2, its Saratov plant on Aug. 11 and Lukoil’s Volgograd refinery — the largest in southern Russia and one of the country’s top 10 producers — on Aug. 14.”
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“Rosneft’s largest refinery, in Ryazan, has also suspended half its capacity since Aug. 2. Additional strikes have targeted the Syzran, Slavyansk and Afipsky refineries.”
Russia has lost an estimated 11% (about 30 million tons) of its annual refining capacity, as a result of the strikes.
The lost capacity is taking a toll, not just on Russia’s economy, but also on its war effort, The Kyiv Independent reports:
“Russia, one of the world's largest energy producers, relies heavily on oil exports to fund its full-scale war against Ukraine. Ukrainian forces have increasingly targeted Russian energy facilities that both supply fuel to its military and generate revenue for the Kremlin.”
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“Ukraine's military said on Aug. 15 that its long-range strikes in 2025 have caused losses worth 4.11% of Russia's annual GDP, or about $74.1 billion. Oil refineries have been the most common targets, making up 42% of attacks in 2025.”
Additionally, in response to the domestic shortages created, the Kremlin has imposed a temporary ban on oil exports. The ban is scheduled to end in October, but has already been extended once. It was originally set to expire at the end of August.