Russian gas prices continue to decline, despite the recent rise in oil prices, - reported “Zerkalo nedeli” with reference to the Ministry of Economic Development of the Russian Federation.
For example, in March the cost of a thousand cubic meters of Russian gas on the spot market in Germany fell to 147.2 USD. Thus, in March, gas prices have fallen by 14.6%, while in annual terms prices fell by 56%. The average gas price in the first quarter of 2016 was 167.6 USD per thousand cubic meters.
As known, gas prices are linked to world oil prices, but they react to changes of oil prices not immediately - but with a time lag of six to nine months.