Ukraine’s Antimonopoly Committee has fined seven oil traders 204.325 million UAH for collusion in setting fuel prices.
According to the committee, OKKO Naftoproduct was fined for 77.881 million UAH, WOG Retail LLC – 54.036 million UAH, Alliance Holding LLC – 39.711 million UAH, Zoloty Ekvator (Golden Equator) LLC – 16.195 million UAH, AMIC Ukraine (before May 8, 2015 – Lukoil Ukraine) – 12.53 million UAH, Socar Petroleum LLC – 2.534 million UAH and Parallel LLC – 1.438 million UAH.
“During the investigation it was established that in January 2013 through January 2016 the defenders synchronously or almost synchronously (with an interval of several days) changed retail prices of A-95 petrol and diesel fuel on the display panels of their filling stations. These actions resulted in removal of price competition between oil traders and forced other market players to set their retail prices at the unjustifiable level. This resulted in the reduction of competition on the market in general”, the committee said. (Interfax/Business World Magazine)
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