Russians sell off petrol stations

Following the escalation of Russia's energy crisis due to Ukrainian drone attacks on Russian oil refineries, petrol station owners in Russia have started selling off their stations.

Source: Izvestia, a Kremlin-aligned Russian media outlet

Details: The price of a single petrol station up for sale ranges from RUB 1 million (US$12,800) to RUB 150 million (US$1,9 million).

Prices are affected by location, equipment, the age of the station, and whether it operates under a franchise. In some regions, entire chains of petrol stations are being sold. In Ufa, for example, a chain of 13 stations is on offer for RUB 350 million (US$4,5 million).

In addition to independent owners, major oil companies have also put their petrol stations up for sale.

Gazprom, one of Russia's largest state-owned energy companies, is selling petrol stations in Astrakhan, Rostov, Tambov and Nizhny Novgorod oblasts. Similar listings have also appeared on Lukoil's website.

Izvestia reports that private petrol stations in Russia receive fuel on a leftover basis.

Large companies supply their own stations first, followed by regional chains, and only then smaller market players.

As a result, fuel either fails to reach them at all or they are forced to buy it at inflated, uncompetitive prices.

Background: Several of Russia's wealthiest individuals, including people close to Vladimir Putin, have moved billions of dollars abroad over the past year, driven by growing concerns about the state of the country's economy and the state budget.

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