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Bulgaria Probes Price Fixing Fuel Retailers

By  |  April 16, 2020

Bulgaria’s anti-monopoly watchdog has launched an investigation into the country’s only oil refinery and 10 fuel retailers over possible breaches of competition rules when setting prices of petrol and diesel last month, it announced on Thursday, April 16.  

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    The Commission for Protection of Competition said in a statement it had started its probe after prosecutors alerted it that retail fuel prices in the country dropped by an average 11% in March while the global oil price plunged by about 47%, mainly due to the coronavirus pandemic. 

    The regulator stated its initial analysis showed fuel companies had gradually lowered their prices when taking new amounts of fuels out of storage to reflect the global oil prices.

    Full Content: Reuters

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