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Oil traders threatened with fines for unjustified increase in fuel prices

«The agency will apply penal mechanisms for unreasonably high price of fuels and lubricants,» Director of the State Agency for Antimonopoly Regulation of Kyrgyzstan Keneshbai Tailakov said at a press conference today.

At the same time, he noted that since the beginning of the year there has been an increase in prices on the fuel and lubricants market in Russia. Wholesale prices for diesel fuel at Russian refineries increased by 70 percent, for gasoline — by 130 percent. There is also a gradual increase in cost in the domestic market of the country.

«We have a stable price situation in comparison with other countries. The average cost of diesel fuel is 55 soms in Kyrgyzstan. It is 58 soms in Kazakhstan, in Uzbekistan — 76 soms, in Russia — 62 soms, in Armenia — 87-90 soms, in Tajikistan — 90 soms. The same situation is with gasoline. Its average price is 58 soms, in Uzbekistan — 73 soms, in Russia — 56,» Keneshbai Tailakov told.

«Just last week we convened our major players. These are the monopolists Rosneft, Gazprom Neft Asia, Red Petroleum. We have issued the relevant requirements of the antitrust authority and warnings. The main thing for them is to comply with the principle of the law on competition and prevent a sharp unjustified rise in prices, do not infringe on the rights of consumers, and always inform the antimonopoly authority when there is an increase or change in market conditions,» he concluded.

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