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 October–December 2021, the service said in a statement on Friday.

The company’s 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 October–December 2021, a significant increase compared with the price dynamics in January–September.

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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