In September, the payments to oil producers under the dampener reached a record 305.5 billion rubles, according to the Ministry of Finance. This is just 32.5% less than the net budget revenue for the same month from the entire oil and gas sector.
The dampener consists of budget payments to oil refineries (refineries) for supplies in Russia at prices below export levels. This mechanism compensates for part of the difference between the indicative wholesale prices (set by the government annually) in Russia and fuel prices in international markets. Since June of this year, the dampener has also been paid to gasoline importers, and since July, to diesel fuel (DF) importers. The aims of this mechanism are to minimize the impact of fluctuations in fuel prices in international markets on Russia and to support domestic oil refining. In most cases, the dampener also keeps fuel prices in Russia lower than in other countries.With the introduction of the dampener, the mineral extraction tax (MET) was increased for oil companies, which is how these payments were generated. Furthermore, all oil-producing companies pay the MET, while only those owning the largest refineries receive the dampener. Therefore, it is not possible to view the dampener as simply a “withdrawal of funds” from other sectors of the economy. This year, there is a unique situation where oil and gas revenues have declined while the dampener has increased.
Last year, the total payments under the dampener amounted to 881.8 billion rubles. In the first nine months of this year, the amount has already exceeded 1.2 trillion rubles. High payments were recorded in 2022 and 2024 when oil and gas revenues also reached record levels. However, according to the results of the first nine months of this year, the treasury collected 17.2% less from the sector compared to the same period of the non-record year of 2025.
In September, the budget received 870.9 billion rubles in oil and gas taxes, but only 452.4 billion rubles went into its revenue section. The remaining 418.5 billion rubles were returned to the oil producers in the form of compensations and subsidies, the majority of which were related to the dampener mechanism.
Despite the record dampener payments in September, according to Rosstat, retail prices for gasoline continued to rise, increasing by more than 1% over the month (21.2% since the beginning of the year). The situation with diesel fuel is better, as it fell by almost 2% over the month, but since the beginning of the year, the increase has reached 14%. Inflation from the beginning of the year to the end of September was 4.93%. On the stock exchange in September, gasoline and diesel quotes fell sharply (by 6-10%) compared to peaks in August, but this decline did not affect retail prices.
Diesel prices at gas stations fell by nearly two percent in September.As noted in an interview with "RG" by Yuri Stankevich, Deputy Chairman of the State Duma's Energy Committee, the dampener compensates for the difference between internal and external prices specifically at the wholesale level. However, the retail price at gas stations includes not only the cost of purchasing fuel. It incorporates logistics, rising equipment maintenance costs, electricity, labor costs, and the margin of the gas station network itself. Additionally, gas stations bear costs to maintain prices from previous months at the expense of their own profits.
The dampener is received by refineries, not gas stations. Therefore, payments only indirectly affect retail prices. However, given the record payments, a greater impact on gas station prices was expected. This did not happen for several reasons.
According to Sergey Frolov, managing partner of NEFT Research, the rising fuel prices in Europe (the dampener is still calculated based on Rotterdam prices) and the increase in gasoline imports also played a role. The final price ends up being more expensive than European prices due to high global market prices coupled with logistics and premiums for sanctions and other risks. Under these conditions, there is often not enough dampener to cover imports, meaning trade occurs at a loss. Independent players (gas stations not owned by major oil companies) cannot afford this. It is mainly the price increases at independents or franchised gas stations that lead to the rise in the average price index, the expert emphasizes.
Stankevich believes that the impact of fuel imports should not be overestimated. The increase in dampener payments was caused not by imports, but by 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 became anomalously high compared to the regulated domestic market, leading to a historic record of compensations. In this case, fuel imports are not a driver of the payments.
The average price of AI-92 gasoline in Rotterdam in August 2026 increased by 2% compared to the previous month, while diesel fuel prices rose by 10%, according to Sergey Tereshkin, CEO of Open Oil Market. However, due to the weakening ruble, the price of the export alternative (the export price less costs) increased even more: by 9% for AI-92 gasoline and by 19% for diesel.
The impact of fuel imports on price increases at gas stations has been minimal.The expert is confident that, had it not been for the weakening of the ruble, the dampener 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), dampener payments may increase even further, as the average exchange rate last month amounted to 85.1 rubles per dollar, compared to 83.2 rubles in August and 77.9 rubles in July. Tereshkin does not expect a significant decrease in retail gasoline prices but allows for some stabilization, as is already happening with diesel prices.
According to Dmitry Gusev, Deputy Chairman of the Supervisory Board of the "Reliable Partner" Association and a member of the expert council of the "Gas Stations of Russia" competition, the key issue for the industry now is the volumes of oil refining, not prices. He believes that there are no incentives for building new refineries, especially in areas where they are greatly needed - in the east of the country. Taxes from the oil sector are collected at the extraction stage, export duties have been zeroed, and further, companies can do whatever they deem necessary with that oil - export it or refine it, noted Gusev.
A car owner from Rostov demanded that one of the gas stations refund her overpayment for fuel, a claim already supported by the antimonopoly service. If the gas station does not return her money, the Rostov resident is prepared to seek justice in court.
In August, Irina Yakimiv faced a dilemma: filling up at reasonable prices after waiting in line or refueling freely but at a high price.
"I was in a hurry and stopped at one of the gas stations. The price for AI-92 gasoline was over 100 rubles, but I had to fill up. I encountered completely outrageous prices - 180, 200 rubles per liter," Irina recounted.
The Rostov resident decided not to leave the matter unresolved and wrote to the Federal Antimonopoly Service (FAS) requesting an investigation into what she considered unjustified price gouging for fuel.
In her appeal, Irina Yakimiv stated that she believes the rise in fuel prices in Rostov-on-Don is unjustified, specifically pointing out that this is happening at the "Ajax" gas stations in the Rostov region.
Ultimately, her position was validated: the Rostov region FAS reported that the department continuously monitors pricing in the oil products market and had already identified instances of excessive fuel prices at two regional gas stations. Official warnings were issued, requiring them to correct the situation.
However, the outcome only partially satisfied Yakimiv. "I prepared a pre-trial claim asking to reimburse my damages. We calculated the average price in the region and the one charged at the gas station. It turned out to be about 1,000 rubles overpaid," she told "RG."
The woman emphasizes that the issue is not the amount but the principle: she wants to set a precedent so that unscrupulous gas station owners stop artificially inflating prices.
If "Ajax" does not voluntarily come to an agreement, the Rostov resident intends to continue pursuing justice in court. "Who guarantees that they won't return to this practice in the future?" Irina Yakimiv raises the question.
Source: RG.RU
