Cyprus’s competition regulator has found signs of price fixing among four leading petrol retailers, the watchdog said yesterday.
It has summoned Petrolina Holdings, ExxonMobil Cyprus, Hellenic Petroleum Cyprus and Lukoil Cyprus to explain their pricing structures after finding a prima facie case against the four. “We found suggestions of identical pricing policy among the four companies, and an apparent practice of each one of them setting prices among their dealers,” Competition Commission Chairman George Christofides told Reuters.
The preliminary finding is that there is scope for further investigation and does not imply a conclusion. The companies will now have to respond to statements of objections compiled by the Competition Commission, and the process could take several more months.
(Reuters, 29/03/2007)