Spain’s Comisión Nacional de la Competencia (CNC) has released a new report on the automotive fuel distribution market in Spain. The CNC found that the market is insufficiently competitive. The following conclusions were drawn:
- In 2011, pre-tax prices and margins in Spain were amongst the highest in the EU.
- In the provinces, there is a direct relationship between service station concentraiton and the average pre-tax prices in the province.
- The short-term behavior of margins is influenced by rigidities in the adjustment of national pre-tax retail prices in response to variations in international fuel prices.
- Pre-tax retail prices react faster to increases in international prices than to declines.
- More is at work than just collusion.
The Commission urges implementing the recommendations it made in its 2009 report, such as reducing barriers to entry.
Full content: Comision Nacional de la Competencia
Related content: The New Spanish Competition System
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