FAS: LUKOIL’S SUBSIDIARIES UNREASONABLY INFLATED GASOLINE PRICES IN NIZHNY NOVGOROD REGION AND PERM TERRITORY

They will be fined in accordance with the Code of Administrative Offences of the Russian Federation

Nizhny Novgorod and Perm Regional Offices of FAS Russia have completed consideration of cases against Lukoil-Tsentrnefteprodukt LLC and Lukoil-Uralnefteprodukt LLC for violation of the Part 1 of the Article 10 of the Law on Protection of Competition.

They have established the dominance of these companies in the commodity market of petroleum products within the borders of these regions.

During the consideration of the cases, the facts were confirmed that the expenses of companies that are necessary for the retail sale of AI-92 and AI-95 gasoline were reduced due to lower costs of buying oil products in the wholesale segment.

Thus, there were no objective economic reasons for increasing the cost at the gas station.

According to the results of the consideration of cases, the increase in retail prices was found to be unjustified.

The actions of Lukoil-Tsentrnefteprodukt LLC and Lukoil-Uralnefteprodukt LLC infringe the rights and interests of consumers in the Nizhny Novgorod Region and Perm Territory.

Companies have also been issued remedies to eliminate violations.

FAS Russia continues to analyze the situation in the market of petroleum products.