Antitrust says to initiate case on fuel trade price fixing

MOSCOW, Feb 5 (PRIME) -- Russia’s Federal Antimonopoly Service suspects that a fuel price hike on the commodity exchange in spring 2018 was a result of price fixing among traders and plans to initiate an antimonopoly case, the authority’s Deputy Director Andrei Tsarikosvky told reporters on Tuesday.

“Now (we are talking) about two traders” that are “large enough,” he said and added that new suspects may appear in the course of investigation.

“Their actions resulted in higher prices on the exchange. As the exchange price is indicative for many (market participants), it naturally led to a general (price growth).”

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