Lukoil said that, the reduction in the diesel selling prices in the first half of August 2008 at its refineries averaged 7%, while the average decrease in fuel oil prices was 8% and jet fuel prices was 4%.
According to Lukoil, a further reduction in diesel and motor gasoline prices could be expected between August 2008 and September 2008 resulting in a reduction of between RUB0.30 and RUB0.40 per liter of motor gasoline, and RUB0.50 per liter of diesel at the company’s retail outlets.
The company owns four Russia-based refineries in the cities of Ukhta, Perm, Nizhniy Novgorod and Volgograd, as well as two mini refineries in Urai and Kogalym in Western Siberia. In 2007, Lukoil’s Russian refineries produced 11.4 million tonnes (MT) of diesel fuel, 10.6MT of fuel oil, 4.9MT of motor gasoline varieties and 2.5MT of jet fuel.
