Russia’s Surgutneftegas Lowers Wholesale Fuel Prices By Another 11%
(Source: Daily News Bulletin; Moscow – English)
MOSCOW. Nov 7 (Interfax) – Russian oil company Surgutneftegas (RTS: SNGS) lowered wholesale fuel prices by an average 11% in early November 2008, the company told Interfax.The cost of A-76 gasoline was lowered to 17,818 rubles per tonne, A-92 gasoline to 18,880 rubles per tonne, A-95 and A-96 gasoline to 25,842 rubles per tonne, DT-A arctic diesel fuel to 22,538 rubles per tonne, DT-L summer diesel to 18,231 rubles per tonne and M-100 fuel oil to 6,962 rubles per tonne. The cost of TS-1 fuel remained the same at 21,335 rubles per tonne.
MOSCOW. Nov 7 (Interfax) – Russian oil company Surgutneftegas (RTS: SNGS) lowered wholesale fuel prices by an average 11% in early November 2008, the company told Interfax.The cost of A-76 gasoline was lowered to 17,818 rubles per tonne, A-92 gasoline to 18,880 rubles per tonne, A-95 and A-96 gasoline to 25,842 rubles per tonne, DT-A arctic diesel fuel to 22,538 rubles per tonne, DT-L summer diesel to 18,231 rubles per tonne and M-100 fuel oil to 6,962 rubles per tonne. The cost of TS-1 fuel remained the same at 21,335 rubles per tonne.This is the second time the company has lowered fuel prices in two weeks. In mid-October, the company announced it was reducing prices by 8%-28% depending on the type of petroleum product.
The Federal Antimonopoly Service (FAS) on October 16 proposed that the country’s seven biggest oil companies – Lukoil (RTS: LKOH), Gazprom Neft (RTS: SIBN), Rosneft (RTS: ROSN), TNK-BP (RTS: TNBP) Holding, Surgutneftegas (RTS: SNGS), Tatneft (RTS: TATN) and Alliance – lower prices on oil products in accordance with market conditions. The companies had already announced a reduction in fuel prices at their gas station chains.
