Sibneft, TBK-BP announce petrol price cuts plan

Sibneft, TBK-BP announce petrol price cuts plan


Russia’s Sibneft will reduce its wholesale prices by 5 to 7 percent, depending on the region, Interfax reported recently. However, the company has yet to decide on the reduction of the retail prices across the network of its filling stations. Sources in both companies pointed to the market nature of pricing stressing that the overall seasonal drop in demand for petroleum products entails reductions in the wholesale prices of petrol. LUKoil announced on December 15 that its board had decided to c...


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