Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain regulator probes petrol pump pricing

Source: Reuters - Tue 30th Jul 2013
Spain regulator probes petrol pump pricing

The Spanish competition regulator on Tuesday opened an investigation that could lead to sanctions against oil companies for possible collusion to hike petrol prices to protect profits at a time of recession.

The Competition Commission said the probe, likely to last 18 months, would focus on oil companies Repsol, Cepsa, BP Espana, DISA, Meroil and Galp.

Following inspections at the headquarters of most of the companies and the Spanish Association of Oil Product Operators, the regulator said it had found signs of anti-competitive practices related to fuel prices charged at petrol pumps.

Spain's energy regulator, the CNE, in May accused Repsol, BP and Cepsa of increasing prices in Spain to compensate for falling demand in a recession.

Although Spanish fuel prices are higher than the EU average, lower taxes mean the final consumer price is below the average.

Lower prices charged by oil companies at the pump would give the Spanish government more room to raise fuel taxes at a time when it is desperately in search of higher revenue to pay down the deficit.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs