Interfax reported that Russia's Transnefteproduct altered tariffs for the transportation of petroleum products on August 1st.

The company said the decision to change the tariff was made taking into account supply plans as regards destination and volume in addition to the competitiveness of transportation via other types of transport.

Starting from August 1st the tariff for pumping petroleum products will be raised while the tariff for fulfilling contracts and dispatching supplies abroad will be lowered.

It was reported earlier that the company had raised the tariff on fulfilling contracts and dispatching petroleum product supplies during transportation to the domestic market to RUB 19.68 per tonne from RUB 18.33 per tonne on May 1st.

Transnefteproduct became a subsidiary of pipeline operator Transneft in 2008. Transnefteproduct holds a monopoly over the transportation of petroleum products via pipelines.

(Sourced from Interfax)