"FLASH" AND "CITY PETROL SERVICE" GASOLINE SELLING COMPANIES USE UNGROUNDED PRICES
Noyan Tapan
Apr 11 2007
YEREVAN, APRIL 11, NOYAN TAPAN. According to studies of the RA State
Commission on Protection of Economic Competition, ungrounded prices
were used in the gasoline sale market by Flash company in February
and December 2006 and by City Petrol Service company in March of the
same year.
According to spkeswoman for the commission Armine Udumian, prices of
gasoline purchase by Flash company declined by 8.13% in December on
November 2006, its expenses – by 4.88% but gasoline was sold at a
price which was higher by 3.6%, as a result of which the company’s
profit grew by 110% in the indicated period.
By the law, a sale price is considered as ungrounded if after its
increase the profit of the economic entity grows by more than 5%.
Ungrounded increase of prices will be considered a punishable action
after the law on making additions and amendments to the RA Law on
Protection of Economic Competition will take effect in the coming days.