LUKOIL-Permnefteprodukt fined for monopolistic prices

31 July 2009 (09:42)

The Perm division of the Federal Antimonopoly Service (FAS) imposed a fine on LUKOIL-Permnefteprodukt for violating the antimonopoly legislation on the regional fuel market. The offense consisted in their maintaining monopolistic (sky-high) gasoline and diesel fuel prices. The fine amounted to 51,088,937 RUR.

FAS’s regional commission declared on June 10, 2009 that LUKOIL-Permnefteprodukt, being dominant on Perm Territory’s retail gasoline and diesel fuel market, violated Article 1 (part 1) of the Federal Competition Protection Act by keeping the high prices on Ai-80, Ai-92, and Ai-95 gas types and diesel fuel in November-December 2008.

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