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Spain: Oil probe spreads into Spanish gas pumps

By  |  July 30, 2013

Spain’s Competition Commission announced Tuesday it opened an investigation into oil companies following accusations of price-fixing at the gas pumps, say reports. The watchdog will specifically look into whether companies conspired to raise gas prices during a financial recession. The investigation, which is slated to last 18 months, began when regulators raided the Spanish Association of Oil Product Operators and reportedly found evidence of price manipulation. The nation’s energy watchdog accused Repsol, BP and Cepsa of similar charges last May, and a similar investigation is being conducted by the European Commission, which raided BP, Shell and Statoil in its own probe.

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