Sechin Speaks on Fuel Prices

By The Moscow Times

May 5, 2011

The Federal Anti-Monopoly Service should investigate high wholesale prices for oil products and take "adequate" measures, Deputy Prime Minister Igor Sechin said Thursday at a government meeting in Moscow.

Russia may take additional steps, focusing on crude oil, to ensure the domestic market has adequate supplies of motor fuel, Sechin said. He criticized Gazprom for not participating in sales via a St. Petersburg-based oil-product exchange.

Prime Minister Vladimir Putin said Thursday that the likely reason for the increase in domestic gasoline prices is price collusion among refiners.

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