FAS sends Russian oil companies and independent gas stations letter on necessity to lower fuel prices

MOSCOW. Oct 5 (Interfax) - The Federal Antimonopoly Service (FAS) sent a letter to vertically integrated oil companies and independent gas stations about the need to reduce the cost of selling petroleum products, the agency's press service said.

A reduction in prices at the pump should occur in connection with the decrease in the price of fuel on the exchange, FAS said.

"FAS Russia and the territorial bodies of the department continue control and supervisory actions in the small-scale wholesale segment of petroleum products. The economic feasibility of the cost of small-scale wholesale sales of fuel from oil depots is checked, as well as other components that are included in the final prices to consumers, including farmers. In addition, the chain from the formation of pricing during purchase from the oil refinery to sale to the consumer is analyzed," the service said.

The initial analysis resulted in six cases being initiated in five regions on grounds of violation of the law on the protection of competition, FAS said.

The agency is waiting for reporting information from oil companies and independent gas stations on the measures they have taken. "In the absence of measures taken by organizations, the service will consider them as signs of a violation of antimonopoly legislation," the press release says.

FAS said that it sent the letter to 32 companies.