The regulator found that the company has implemented a comprehensive strategy to limit competition in the wholesale fuel trade in the country.
The Bulgarian Competition Commission has fined the country’s leading fuel trader Lukoil-Bulgaria for 67.7 million leva (36.83 million dollars) for abuse of a dominant market position. It was reported on February 17 by Reuters.
According to the regulator, the Bulgarian “daughter” of the Russian Lukoil exerted price pressure on its competitors by gradually changing wholesale pricing conditions and eliminating discounts from March 2021 until the end of June 2022.
It is noted that such a policy limits competition in fuel markets and has an impact on consumers.
Pricing Policy Investigation Lukoil-Bulgaria started after complaints from a division of the Austrian company OMV and other wholesalers.
Reuters recalled that the company is part of a group Lukoilwhich controls Bulgaria’s only oil refinery, Neftochim Burgas.
It has a nationwide transportation network and more than 200 gas stations.
In the past it has been reported Lukoil stopped exporting oil through the Baku-Tbilisi-Ceyhan pipeline due to Western sanctions.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.