Competition Council probes into the fuel price hikes. PM Ciuca: I asked for severe sanctions

The Competition Council has kicked off an inquiry into the fuel price hikes, saying it is monitoring the fuel market and arguing that prices has increased too much unreasonably.

The Council argued in a press release that the anticipation of a certain price that should be charged by a company and its announcement in the market may fall under the provisions of the Competition Law. “Companies must independently establish their pricing policy, depending on their own strategy and the cost structure involved in carrying out the activity, the agreements and / or concerted actions regarding the market behavior being sanctioned by the legislation in the field”.

“It is a difficult and volatile international situation mainly prompted by the economic measures taken to counter Russian aggression in Ukraine. Against this background, we keep watch that some companies should not take advantage of this situation, because a possible unjustified increase in prices can lead to sanctions “, said Bogdan Chiriţoiu, President of the Competition Council.

Chiriţoiu told Digi24, that “most gas stations have no such big fuel prices” and that people have several options at hand and they are don’t have to buy from those gas stations where the fuel is expensive.

Prime Minister Nicolae Ciuca said on Thursday that the National Agency for Fiscal Administration (ANAF), the Consumer Protection Authority and the Competition Council had started checks on all Romanian oil companies and called for “the most severe sanctions for those who want to create instability.”

“The Romanian state has the obligation to protect its citizens, to protect the economy, especially in this complicated period, caused by the Russian military invasion of Ukraine. I will not allow anyone to take advantage of this situation to, out of greed or other reasons, try to destabilize the country’s economy and the lives of its citizens. The responsible institutions will be firm in the checks they have to make and will give drastic sanctions to those who break the law,” the premier stated.