17 Jul 2023 12:31

Regulated gas prices in Russia to rise 8% from July 2024, another 8% from July 2025

MOSCOW. July 17 (Interfax) - Wholesale gas prices of Gazprom , so-called regulated prices, are set to increase 8% as of July 1, 2024, and an additional 8% as of July 1, 2025, for all categories of consumers, including both households and industry, according to the orders of the Federal Anti-monopoly Service (FAS) posted on Monday on the government's portal for the official publication of legal acts.

As reported, the September 2022 version of the macroeconomic forecast had envisaged a more modest increase of 7% each in both 2024 and 2025. The Economic Development Ministry in April of this year presented an updated macroeconomic forecast; however, the possible amount of the gas-price indexation was not indicated in the published materials. The FAS had previously posted drafts of the corresponding orders.

Gas prices last increased in Russia by 8.5% as on December 1, 2022.