FAS will verify whether the growth of prices for petroleum asphalt bitumen is reasonable

To execute an order of the Government of the Russian Federation and to control compliance with the antimonopoly law, FAS is investigating whether the growth of prices for bitumen used in road construction is reasonable.

By 29 March 2017, the companies involved in wholesale of petroleum asphalt bitumen on the domestic market and for export, must submit all information necessary for analysis upon a FAS request.

“Bitumen prices have already increased by 50-70% this year in comparison with the average Russian prices last year. Such price jumps at the beginning of the season, undoubtedly, cause FAS concerns. Now our objective is to promptly analyze prices and analyze whether the changes are objective”, emphasized Head of FAS Department for Regulating the Fuel-and-Energy Complex, Dmitry Makhonin.