Russian Watchdog Seeks Explanation for 19% Moscow Petrol Price Increase
Petrol Price Surge in Moscow: Details and Reactions
Watchdog's Inquiry and Retailer Response
MOSCOW, June 18 (Reuters) - Russia's anti-monopoly watchdog on Thursday asked a major petrol retailer in Moscow for an explanation after it hiked prices for 95-octane petrol by 19% in the last week.
FAS, the watchdog, sent the demand to Neftmagistral, a company which runs around 100 petrol stations in the Moscow region and in the capital itself.
Background: Ukrainian Drone Attacks and Supply Impact
The price hike followed Ukrainian drone attacks on a Moscow oil refinery, which supplies the Moscow region with fuel. Neftmagistral declined to comment on the regulator's request.
Price Comparison and Market Situation
The price for 95-octane petrol at Neftmagistral stood at around 95 roubles ($1.30) per litre on Thursday, up from around 80 per litre on June 15.
The Moscow region has so far escaped fuel supply disruptions which have affected some other regions after Ukrainian drone attacks on refineries in recent months.
Reuters witnesses did not see any queues at Moscow's petrol stations and Russian oil majors operating petrol stations in Moscow posted much lower prices than Neftmagistral on their websites. Rosneft said 95-octane petrol at its own Moscow petrol stations cost 73.6 roubles on Thursday.
Exchange Rate and Reporting Credits
($1 = 73.3500 roubles)
(Reporting by Reuters; Writing by Gleb BryanskiEditing by Andrew Osborn)
