Russian gas price up 25 percent in July

Average price for Russian gas jumped in July by 24.9 percent year-on-year to 305.3 U.S. dollars for 1,000 cubic meters, Russia's Economic Development Ministry said Tuesday.

Month-on-month, the price rose by 5.2 percent in July. The price of Urals oil brand grew by 15 percent year-on-year to 74.2 dollars per barrel.

The price remained stable compared to June 2010, the ministry said as quoted by RBC news agency.

Preliminary estimations show that in July Russia's crude oil export rose by 8.8 percent, natural gas export fell by 28.3 percent, against July 2009.

In January-July 2010, the gas export rose by 27.7 percent, while oil export rose by 1.4 percent year-on-year.

Source: Xinhua