OREANDA-NEWS. November 18, 2010. The Federal Arbitration Court of the North-Caucasus District confirmed validity of the decision and determination issued by the Stavropol Office of the Federal Antimonopoly Service (OFAS Russia). The antimonopoly body established the fact of concerted actions of oil companies aimed at pushing up retail prices for petrol and diesel fuel, reported the press-centre of FAS Russia.

On 21st December 2007, OFAS Russia in the Stavropol region considered a case on violating Article 11 of the Federal Law “On Protection of Competition” by oil companies operating in the Stavropol region - “Lukoil-Yugnefteproduct” Ltd. and “Rosneft-Stavropolye” NK” OJSC.

In November 2007, the oil companies, which have the leading positions on the petrol market in the Stavropol region, simultaneously increased retail prices for petrol, grades AI 76, 92, 95 and diesel fuel.

In course of the investigation, Stavropol OFAS Russia established the fact of a tacit price collusion, the purpose of which was to unreasonably increase prices and coordinate the companies’ activities.

Having considered the case, the antimonopoly body issued a determination to “Lukoil-Yugnefteproduct” Ltd. and “Rosneft-Stavropolye” NK” OJSC to stop exercising concerted actions.

For two years the oil companies have been trying to challenge the decision of Stavropol OFAS Russia through Arbitration Courts.

On 11th November 2010 the Federal Arbitration Court of the North-Caucasus District drew a line on the case by ruling that the oil companies “Lukoil-Yugnefteproduct” Ltd. and “Rosneft-Stavropolye” NK” OJSC were guilty of exercising concerted actions.

Reference:

Article 11 of the Federal Law “On Protection of Competition” prohibits agreements between economic entities or concerted actions of economic entities on the market.