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AMC probes into gasoline price hike

Over the past two weeks, prices jumped by 1.5 hryvnya/liter.

AMC probes into gasoline price hike

The Antimonopoly Committee of Ukraine in the course of an audit found that the prices for gasoline and diesel fuel in retail networks have jumped by more than 5% since early September, the anti-trust watchdog said in a statement on 27 September.

The retail price for the gasoline A-95 in the filling networks WOG, OKKO and SOCAR, increased by 1.5 hryvnya per 1 liter of fuel over the last two weeks to 27.99 hryvnya/liter, the highest price in the market. The situation is similar in the retail market of diesel fuel.

"The synchronicity of the increase in retail prices for light oil products in September may be indicative of anticompetitive concerted actions of market participants," the AMC statement reads.

To determine the presence or absence of a fuel deficit in the domestic market, the AMC requested the State Fiscal Service to give information about the volumes and cost of imported fuel. The Ministry of Economy provided data on the recent changes in demand and supply for gasoline and diesel fuel.

The AMC requested information from the energy ministry about projected prices for fuel and the reasons that could provoke an increase.

"In the event the Antimonopoly Committee discovers signs of violations of the legislation protecting economic competition, appropriate action will be taken," the watchdog said.

In October last year, the AMC fined seven gas filling networks for price collusion.