OREANDA-NEWS. On January 27, 2009 the Presidium of the Collegium of the Federal Antimonopoly Service (FAS Russia) discussed monitoring of wholesale and retail prices on the market of oil products in 2008 and in January 2009. The Presidium also considered the petitions from the legislatures and the heads of the constituent territories of the Russian Federation on the need to restraint petrol prices, reported the press-centre of FAS Russia.

Monitoring of the retail markets of oil products, carried out by the Federal Antimonopoly Service, has shown that reduction of retail prices is considerably behind the downward price movements in the wholesale sector without sufficient economic justification. Such actions can be the result of abusing dominant position the companies on the regional retail markets or cartel collusion between them.

By 1st February 2009 the Central Office of FAS Russia and its regional offices all over Russia will complete analysis of the data obtained through the monitoring of the retail oil products markets. Should any anticompetitive actions by the market participants be discovered, the antimonopoly bodies would initiate proceedings against the violators.

To coordinate this work, Moscow formed the control headquarters chaired directly by Igor Artemyev, the Head of FAS Russia.