A recent study by the Finnish Competition and Consumer Authority (FCCA) has revealed that the disappearance of Teboil stations from the Finnish market significantly impacted consumer wallets. Following the closure of the chain in November 2025—a move sparked by international sanctions against its parent company, Lukoil—fuel prices at competing stations saw a measurable spike. The FCCA estimates that this shift in market dynamics has increased total annual spending for Finnish motorists by approximately 40 million euros.
Before the exit, Teboil held a respectable market share of 10 to 15 percent in gasoline and diesel sales. Its presence was felt most acutely at the local level, where more than half of all competing gas stations were located within just three kilometers of a Teboil site. The study highlights that before the closures, stations located near a Teboil competitor maintained lower price points to remain competitive. However, once that local rivalry vanished, the pricing structure inverted. At stations that previously competed directly with Teboil, prices for E95 and diesel rose by 1.4 percent, while E98 increased by 1.3 percent compared to stations that never had a Teboil nearby. In practical terms, this translated to a price hike of roughly 2.5 cents per liter.
The financial burden on the public became apparent almost immediately. In just the first three months following the closures, consumer spending on fuel rose by 10 million euros. By projecting these figures across a full year, the FCCA determined the 40-million-euro impact, assuming the pricing trends remain consistent. This data underscores how the loss of a single significant player can weaken broader market competition and grant remaining distributors greater local market power.
The FCCA’s investigation is far from over. Leveraging a massive dataset collected in early 2026—including hourly pricing and volume data from the remaining five major fuel chains—the agency is now shifting its focus to the “price cycle” of the Finnish fuel market. This next phase aims to uncover exactly how daily pricing decisions are made and the extent to which local monopolies or reduced competition allow distributors to dictate higher price levels. Further reports on these findings are expected as the agency continues to monitor the health of the energy sector.
