The Mongolian Authority for Fair Competition and Consumer Protection (AFCCP) has been investigating a fuel price hike at the request of the public. The authority confirmed that retail sellers do not have any legal justification for raising prices and fabricating shortages.

A total of seven companies, namely: Magnai Trade LLC, Petrostar LLC, SodMongol LLC, Shunkhlai LLC, JM Oil LLC, Tes Petrolium LLC and Oin Birj LLC, are to be fined by the AFCCP for MNT 5 million for fabricating the shortages.

The price of fuel rose by an average of 100 MNT at gas stations earlier this year, with the price reaching 1,630 MNT per liter at Petrovis stations and 1,625 MNT at Shunkhlai stations.