OREANDA-NEWS. July 07, 2014. As a result of three-year appeal process on the decision and determination issued by the Office of the Federal Antimonopoly Service in the Krasnodar region (Krasnodar OFAS Russia), “LUKOIL – Yugnefteproduct” Ltd. fixed retail prices for motor fuel in Sochi at the same level with prices in other municipalities in the Krasnodar region.

Earlier, on 3rd June 2014, the Federal Arbitration Court of the North-Caucasus District supported the decision and determination of Krasnodar OFAS Russia with regard to “LUKOIL – Yugnefteproduct” Ltd. “NK Rosneft – Kubannefteproduct” OJSC and “LUKOIL – Yugnefteproduct” Ltd. exercised concerted actions that resulted in unreasonable, relatively synchronized and unified fixing and maintaining retail prices for oil products within the municipality - Sochi resort-city (Clause 1 Part 1 Article 11 of the Federal Law “On Protection of Competition”).

The companies increased prices for the same level (+1.50 RUB/l), exceeding the level of prices fixed by these companies in other municipalities within the region in the absence of any objective reasons affecting pricing of each economic entities.

The companies’ unified pricing policy for fixing and maintaining retail prices for oil products higher than in the Krasnodar region (+1.50 RUB/l) put consumers in Sochi in an unequal position.

On 17th June 2014, “LUKOIL – Yugnefteproduct” Ltd. reported on executing a determination of Krasnodar OFAS by fixing retail prices for motor fuel in Sochi at the same level with prices in other municipalities. Retail prices for gasoline (Ecto 92) and diesel fuel (Euro) in Sochi reduced from 0.10 to 0.40 RUB/ l.