OREANDA-NEWS. July 22, 2008. The Sverdlovsk Regional Office of the Federal Antimonopoly Service recognized the fact of price collusion between "Yekateringburgnefteproduct" OJSC and "LukoilPermnefteproduct" Ltd. and issued a determination to stop the antimonopoly violations, reported the press-centre of FAS Russia.

The companies violated the law by engaging in concerted actions on fixing and maintaining the same prices for oil products on the retail market in Yekateringburg. Monitoring the oil product prices, the Sverdlovsk Regional Office of FAS Russia established that from January 2007 to March 2008 the companies simultaneously fixed the same prices for the products of different brands. Such actions violated Clause 1 Part 1 Article 10 of the Federal Law "On Protection of Competition" and the Sverdlovsk OFAS Russia initiated proceedings against both companies.

Investigation confirmed the fact of collusion and the Sverdlovsk OFAS Russia issued determinations to the companies requesting them to stop the violations by not repeating the attempts to set the same prices, dovetailing competitor's prices.

The antimonopoly body will also initiate administrative proceedings against "Yekateringburgnefteproduct" OJSC and "LukoilPermnefteproduct" Ltd. under Article 14.32 of the Code on Administrative Violations of the Russian Federation, which means imposing administrative fine 1 - 15% of the amount gained by the violator from selling the goods.