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. Last Updated: 07/27/2016

Fuel Providers Probed Over Collusion

The Federal Anti-Monopoly Service said Tuesday that it would investigate domestic fuel providers on suspicion of colluding to raise prices on aviation fuel.

The price of aviation fuel in the domestic market is unjustifiably high when compared with the price for the fuel supplied to airports in Western Europe, the anti-monopoly service said.

"The fact that domestic prices supplied by Russian oil companies in conditions of a monopolized market exceed export [prices] is evidence of a violation of anti-monopoly laws," it said in a statement.

Yevgeny Ostrovsky, CEO of Airport Fuel Supply Trading House, which supplies most of the aviation fuel for Moscow's airports, blamed disparity in prices on an absence of a market mechanism for regulating the prices.

"Price should be a compromise between the buyer and the seller," Ostrovsky said, Interfax reported. "With us, prices are dictated, and goods are allotted."