Russia: Kremlin Pledges Further Clampdowns on Fuel Prices
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Monday, 16 January 2012 |
Outgoing Russian President Dmitry Medvedev has written to the anti-monopoly service (FAS), urging the agency to closely monitor movements in fuel retail prices, according to a statement issued by the Kremlin. The statement added that "baseless" increases in fuel prices would lead to swift legal measures.
Anti-monopoly probes last year led to significant fines for Rosneft, Gazprom, Bashneft and Lukoil for alleged manipulation of fuel prices. Citing a series of measures to stabilise the domestic fuel market, Russia's Energy ministry recently insisted that a rise in excise duty on fuel will not lead to a gasoline and diesel price "shock".
PetrolWorld 16012012
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