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. Last Updated: 07/27/2016

Gazprom Raises Prices

MOSCOW -- Natural gas prices will go up by 5 percent to 30 percent Monday, the Federal Energy Commission says.

According to preliminary statements, industrial consumers face a 15 percent price rise, domestic consumers will be levied 5 percent more and a 30 percent rise looms over federal power stations.

The tariff hike may be seen as a political victory for Gazprom over the government, which is trying to suppress inflation. However, Gazprom is only paid for 50 percent of domestic supplies and it is estimated Gazprom will earn only 1.7 percent more from the price hike, Troika Dialog said Friday.