Competition agency fines seven oil traders UAH 204 mln for collusion

17:46, 28.10.2016 1 min read

Ukraine's Antimonopoly Committee has filed seven oil traders UAH 204.325 million for collusion in setting fuel prices.

According to the committee, OKKO Naftoproduct fined UAH 77.881 million, WOG Retail LLC – UAH 54.036 million, Alliance Holding LLC – UAH 39.711 million, Zoloty Ekvator (Golden Equator) LLC – UAH 16.195 million, AMIC Ukraine (before May 8, 2015 – Lukoil Ukraine) – UAH 12.53 million, Socar Petroleum LLC – UAH 2.534 million and Parallel LLC – UAH 1.438 million.

"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.