Russian regulator demands explanation after one Moscow petrol retailer hikes prices by 19%

Russia's anti-monopoly watchdog has requested an explanation from a major Moscow petrol retailer, Neftmagistral, over a 19% price hike for 95-octane petrol following Ukrainian drone attacks.

Russia's anti-monopoly watchdog on Thursday asked a major petrol retailer in ‌Moscow for an explanation after it hiked prices for 95-octane petrol by 19% in the last week.

FAS, the watchdog, sent the demand ‌to Neftmagistral, a company which runs around 100 petrol stations in ‌the Moscow region and in the capital itself. The price hike followed Ukrainian drone attacks on a Moscow oil refinery, which supplies the Moscow region with ⁠fuel. Neftmagistral ​declined to ⁠comment on the regulator's request.

The price for 95-octane petrol at Neftmagistral stood ⁠at around 95 roubles ($1.30) per litre on Thursday, up from around 80 per ​litre on June 15. The Moscow region has so far ⁠escaped fuel supply disruptions which have affected some other regions after Ukrainian ⁠drone attacks ​on refineries in recent months.

Reuters witnesses did not see any queues at Moscow's petrol stations and Russian oil majors ⁠operating petrol stations in Moscow posted much lower prices than Neftmagistral on ⁠their websites. Rosneft ⁠said 95-octane petrol at its own Moscow petrol stations cost 73.6 roubles on Thursday. ($1 = 73.3500 roubles)