Gas station chains have been given 10 days to set economically justified prices: details
24 April 13:07
The Antimonopoly Committee of Ukraine has given the largest gas station chains 10 days to set economically justified fuel prices, according to "Komersant Ukrainian", citing the AMCU.
“The Antimonopoly Committee of Ukraine has recommended that the largest gas station network operators ensure that retail prices for gasoline, diesel fuel, and liquefied gas are set and adjusted based on objective economic factors, in particular taking into account market fluctuations in their purchase costs, in compliance with legislation on the protection of economic competition. The recommendations are binding on business entities and must be addressed within 10 days,” the statement reads.
This deadline was set to obtain a detailed response from gas station network operators regarding the measures taken in the market.
“The markets for light petroleum products remain a focus of heightened attention for the AMCU, and in the event of further signs of violations of competition law, the Committee will take immediate action,” the committee emphasized.
The committee also noted that the rise in petroleum product prices occurred against the backdrop of a sharp increase in global oil prices, petroleum product quotations in EU markets, problems with ensuring sufficient volumes of diesel fuel imports, rising exchange rates, and logistics costs.
“In turn, competition should encourage businesses to take into account objective factors in their pricing—not only regarding rising purchase prices but also regarding conditions for their reduction,” the AMCU added.
The situation on the fuel market in Ukraine
As a reminder, the Antimonopoly Committee of Ukraine analyzed the rapid rise in fuel prices and found no evidence of collusion among key market participants.
Earlier, Prime Minister Yulia Svyrydenko noted that the “Ukrnafta” gas station chain was the first to react to the sharp drop in global oil prices and began lowering prices.
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