Petrol companies accused of fixing prices

Cyprus’ four petroleum products trading companies were accused of price fixing by the Competition Commission on information collected by the Commission regarding its ex-officio investigation. The CPC concluded that the petroleum product trading companies, prima facie, seemed to: have adopted a common policy for the setting of retail prices, and have agreed with filling station owners for the setting of retail prices on the purchase of the 95 and 98 unleaded petroleum products.

The four companies were Petrolina Holdings (Public) Ltd, ExxonMobil Cyprus Ltd, Greek Petrols Cyprus Ltd and Lukoil Cyprus Ltd were guilty of infringements on the existing law for the Protection of Competition,” read a statement from the competitions watchdog.
The Competition Commission has called on all four companies to respond to these initial findings.