Coordinated rise in gas cylinder prices?

Suspicions of price collusion were raised on Friday when three of the four importers of gas in cylinders announced a price increase on the same day. Prices were increased by 45-50 cents to CYP 4.67-4.85 per 10kg cylinder.

Gas cylinders are mainly used for cookers. The last time the price was raised was August.

The Consumers’ Association has raised concern about the rise and called on the Ministry of Commerce to investigate, the Cyprus Mail reported.

The association’s chairman, Petros Marcou found it “suspicious” that the prices were changed at the same time, but the Gas Distributors’ Association said that it was related to new stocks of gas which arrived at the same time.

Crude oil prices eased over the weekend–where crude markets were kept open for trading–as the second hurricane to hit the US in the past few weeks was not as harsh as expected.