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Competition Council investigates the situation on the oil products market

11.03.2022   3192 Views    

Taking into account the evolution of the situation on the oil products market in recent times, the Competition Council comes with the following specification:

Taking into account the attributions established by the Competition Law no. 183/2012, the Competition Council carries out a continuous process of monitoring the competitive environment, the attention being directed in particular to the markets that are of particular importance for the national economy and for the well-being of the final consumers.

With regard to the developments in the oil products market, it is found that prices are strongly affected by the situation on international markets, both in terms of the increase in international quotations for crude oil and derived products, which have reached their highest levels in recent years, and in view of the logistical difficulties encountered by importers.

At the same time, with reference to petrol and diesel prices, both retail and wholesale, the Competition Council monitors the oil products sale market in terms of identifying signs of cartel agreements or abuses of dominant position and is to intervene immediately in case of detection of anti-competitive practices that may fall under the Competition Law provisions, in particular, in situations where wholesale prices for diesel fuel exceed the maximum retail price set by the regulator on the basis of international quotations. If the economic justification for the occurrence of such situations is lacking, the Council could intervene within the limits of the powers set out in the Competition Law.

We reiterate that companies must independently establish their pricing policy, depending on their own strategy and the structure of the costs involved in carrying out the activity, the agreements and/or concerted actions regarding the market behavior being sanctioned by the legislation in the domain.



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