MOSCOW, November 11 (RIA Novosti) - Russian oil major LUKoil plans to put forward an initiative to counter the problem of rapidly rising gasoline prices in Russia, Vice President Leonid Fedun said Friday.
However, he did not specify what measures the company would propose or indicate a timeframe.
According to Federal State Statistics Service data, gasoline prices rose 15.1% during the first nine months of 2005 and 7.9% in September.
On September 19, TNK-BP, LUKoil, Sibneft, Surgutneftegas, and Tatneft agreed to freeze the retail gasoline price until the end of 2005.
When asked whether the price would remain frozen at the beginning of next year, Fedun said the decision would depend on the Federal Antimonopoly Service (FAS).
The Nizhny Novgorod regional department of the FAS has launched proceedings against the company for its price controlling policy, he said.
