The retail price freeze goes on
Moratorium on higher prices will continue, announce oil companies
The price hike for oil products which oil industry experts promised would hit on 1 January this year has not been seen by other market players after all. Moreover, Lukoil announced it would continue its policy of «restraining» retail fuel prices at its gasoline stations. The time frame for «un-freezing» the prices has not been stated but it is most likely that this will coincide with approaching spring thaws. Other vertically-integrated companies which control in total over 60% of the retail market will also adhere to the same policy. In looking at the reasons prompting oil companies to adopt such practices, OilMarket dived into the economics of retail trade in Russia and the influence of seasonal factors. At the same time other interesting facts were uncovered making it possible to draw some founded conclusions.