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11 April 2019, 12:30

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Lugansknefteprodukt cuts state petrol stations prices for 7th time since early 2019

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LUGANSK, April 11 (Lugansk Media Centre) - The state-owned company Lugansknefteprodukt slashed petrol and diesel fuel prices at its petrol stations across the Republic, the Lugansk People's Republic Fuel, Energy and Coal Industry Ministry said.

“The holidays are close at hand, International Workers’ Day, Victory Day sacred to all of us, and, of course, Easter. Many residents will travel to cemeteries to venerate the memory of their relatives. The Fuel, Energy and Coal Industry Ministry which operates for the benefit of the population in the first place, and the Lugansknefteprodukt, found an opportunity to cut fuel prices in the runup to these holidays. I’m sure, this news will make many residents happy,” LPR Fuel, Energy and Coal Industry Minister Pavel Malgin said.

Starting April 10, 2019, the price of one litre of AI-92 petrol amounts to 38.5 rubles, AI-95 sells at 40 rubles and diesel fuel at 47.2 rubles,” the Ministry said adding that it was the seventh fuel price decease since early 2019 and the ninth since November 2018.

The AI-92 price has dropped seven roubles (15 percent) since the beginning of this year, the AI-95 price decreased by nine roubles (18.4 percent) and the diesel fuel price fell 1.8 rubles (4 percent), according to the Ministry.

The LPR is well stocked with fuel thanks to Lugansknefteprodukt’s effective logistic solutions, and can fully meet the consumer demand.

“Lugansknefteprodukt works towards the benefit of the Republic’s residents, not excessive profit. In the runup to the May holidays, the company not only slashed petrol prices but also expanded the network of petrol stations which now comprises 21 outlets, Lugansknefteprodukt acting director Alexander Izosimov said.

The LPR last cut fuel prices in late February 2019.

Earlier, head of the Ministry's oil and gas sector Alexey Mosiychuk said that on January 7, the LPR significantly reduced petrol prices at government outlets for the second time since November 2018. Mosiychuk also said that the next fuel price decrease could be expected as early as spring.

Meanwhile, the Lugansk Media Centre’s price monitoring report said that the 92 and 95 octane petrol in the LPR was some 30 percent cheaper than in Ukraine.

In October 2018, 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.

On November 6, 2018, LPR leader Leonid Pasechnik said at an emergency meeting with tax, law-enforcement and supervisory bodies official that he was taking petrol price decrease under personal control. Pasechnik called the emergency session as private entrepreneurs had ignored the prescribed price cuts to the level matching fuel prices in Russia.

LuganskMediaCentre — 11 April — Lugansk