Competition Council tracks oil companies if decreases in fuel prices are according to the fall in crude oil prices

Competition Council President Bogdan Chiritoiu announced on Wednesday that fuel distributors are monitored to see whether the oil companies have reduced the price of petrol and diesel, considering that the price of crude oil fell by half last year, informs.
“We follow the market and we want to see how quickly and to what extent the substantial reduction in oil prices will be felt in the price at the pump. We’ll do that for several weeks, so that things settle down, and then we will know whether to intervene or not. We follow the Eurostat data, the prices in Romania with and without taxes and prices in the rest of the European Union,” said Bogdan Chiritoiu.
Petre Prisecaru, senior researcher with the Institute of World Economy of Romanian Academy, warned since October 2014 in a statement to he suspected a cartel. He warned at the time that on the fuel market there was “a typical situation of abuse of collective dominance”.

Bogdan Chiritoiucollective dominanceCompetition Councilcrude oilEurostatoil companiespetrol
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