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. Last Updated: 07/27/2016

Gas Prices Double

MOSCOW (MT) - The Moscow government virtually doubled gas prices on Monday in response to an announcement by Tatarstan - the capital city's main supplier of crude - that it would now sell its oil for 12, 000 to 13, 000 rubles a ton instead of the previous rate of 8, 000 rubles a ton, according to Kommersant.

One liter of gas in the city now sells for 25 rubles, up from 15 rubles a week ago. Before the price rise, the Moscow oil refinery reported losses of more than 20 million rubles because of Tatarstan's unilateral decision.

The price rise in Moscow brings the cost of gasoline into line with higher prices in the countryside, where last week one liter of fuel cost 25 rubles.