Russian oil price manipulation investigation probes energy giants

Russian Oil price manipulation: FAS, Russia’s Anti-Monopoly Service, has launched a probe against some of Russia’s largest oil and gas companies -Rosneft, Lukoil, Bashneft and Lukoil’s subsidiary, Lukoil-Rezervnefteprodukconcerns – amid suspicions that prices on the oil products exchange have been manipulated. FAS’s analysis of the petroleum product market has revealed that the prices of AI-92 and AI-95 gasoline went up by about 20% in the over-the-counter wholesale segment from January to September 2014, while the prices of AI-92 and AI-95 gasoline soared by 34% and 35%  respectively on the market’s exchange-traded wholesale segment over the same period. ITAR-TASS