Bulgaria’s competition watchdog on Wednesday overturned an earlier finding that six major oil firms had fixed fuel and diesel prices in the country, saying its probe failed to yield “sufficient” proof in the end.
In October, the Commission for Protection of Competition found the companies guilty of forming a cartel to keep fuel prices in petrol stations artificially high and not reflect fluctuations on the international wholesale markets.
The companies appealed the ruling and the watchdog has now dropped the case in a surprise move.
“During the investigation we did not establish sufficient evidence that the analysed (pricing) practices were due to non-market factors and aimed to breach competition,” the CPC said in a statement Wednesday.
It however warned the six firms to abstain from exchanging any information on pricing with their competitors in the future and sack any officials who breach that recommendation.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI