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1 November 2018, 15:43

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LPR private petrol stations to implement phased price reduction - Ministry

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LUGANSK, November 1 (Lugansk Media Centre) - Private petrol stations in the Lugansk People’s Republic will decrease retail prices gradually to match them to prices at the outlets operated by the state-owned Lugansknefteprodukt, head of the Oil and Gas Sector at the LPR Fuel, Energy and Collieries Ministry Alexey Mosiychuk said at a press briefing at the Lugansk Media Centre.

Earlier, Lugansk People’s Republic acting Head Leonid Pasechnik said that the LPR would reduce fuel and lubricants prices to approximately the Russian level starting November 1.

Mosiychuk noted that Lugansknefteprodukt had already reduced fuel prices at its petrol stations across the Republic. A-92 petrol sells at 46.5 rubles per litre, A-95 at 51 rubles per litre and diesel fuel at 49.5 rubles per litre. These are lowest fuel prices in the Republic at present.

“Private businesses in the LPR will work towards reducing their prices to that level,” the Ministry representative said.

As of now, the average price of A-92 petrol in the LPR ranges from 46.5 to 52 rubles per litre, the average price of A-95 is between 50 and 54 rubles and that of diesel fuel is between 49.5 and 54 rubles per litre.

“Private petrol stations are still selling the fuel purchased before the excise duty cut. It’s always a phased process, prices will be regulated by the market, too,” he said in comments on the difference in petrol prices at private and state-run outlets.

“Nobody will sell fuel at higher prices, it’s the market competition law,” the official added.

The state-owned petrol stations locations and current fuel prices are available on the Lugansknefteprodukt website.

Earlier, the LPR Council of Ministers passed a tax incentive resolution which cut the excise duty on light petroleum products from 150 US dollars to 50 US dollars per ton.

LuganskMediaCentre — 01 November — Lugansk