Antitrust says initiates case against Lukoil over gasoline prices - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Antitrust says initiates case against Lukoil over gasoline prices

MOSCOW, Feb 11 (PRIME) -- The Federal Antimonopoly Service has launched a case against Lukoil-Uralnefteprodukt, a subsidiary of Russian oil major Lukoil in the Perm Region, over a rapid growth of prices for gasoline at the fueling stations in OctoberDecember 2021, the service said in a statement on Friday.

The companys setting gasoline prices in line with inflation without any economic reason does not comply with the law on protection of competition. The average price for gasoline of the company increased by 2.5 rubles per liter in OctoberDecember 2021, a significant increase compared with the price dynamics in JanuarySeptember.

Besides, Lukoil owns a refinery and several tank farms in the region, which should reduce transportation costs significantly, but it sells gasoline at prices much higher than in the regions that neighbor the Perm Region and that lack access to the refineries and tank farms.

The first hearing of the case was scheduled for March 10.

(74.7241 rubles U.S. $1)

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11.02.2022 09:27
 
 
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