WOG, OKKO, SOCAR gas stations fined for coordinated prices increase

Source : 112 Ukraine

Market leaders were increasing the price artificially
15:31, 14 May 2019

Open source

Ukraine’s Antimonopoly Committee fined WOG, OKKO, and SOCAR gas stations in the amount of $2,9 million, as the Chairman of the Committee Yuriy Terentyev reported.

On May 14, the Antimonopoly Committee made a final decision on the results of the investigation of the case on the commitment of anti-competitive coordinated actions of “market leaders.”

Related: Ukraine's Antimonopoly Committee has been slowing business deals for years

“We don’t have the following situation anymore when half of the market keeps artificially higher prices set by the so-called “leaders of the market.” The decision of 2016 on three out of six defendants was supported by judicial hierarchy. The processes on three other defendants are still held,” Terentyev noted.

As it was reported, in March 2018 Ukraine’s Antimonopoly Committee suspected OKKO Retail and WOG Retail of coordinated increase in prices for gas and diesel. This way, the companies remove competition between them.

Related: Naftogaz monopoly should to be destroyed, - Medvedchuk

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