Bulgarian: competition watchdog raids OMV offices in fuel pricing probe

Bulgaria’s competition regulator said on Monday it had raided the offices of the local subsidiary of Austrian oil group OMV as part of its investigation into possible cartel agreements.

Bulgarians complain of high fuel costs despite a plunge in global oil prices and a call by Prime Minister Boiko Borisov for the competition authority to speed up its market investigation.

The Commission for Protection of Competition (CPC) said in a statement its staff were carrying out a spot inspection at the offices of OMV Bulgaria.

In February the watchdog opened an inquiry covering seven fuel retailers over possible price-fixing and into Lukoil’s Bulgarian oil refinery for possible abuse of its dominant market position.

“OMV Bulgaria renders full assistance and cooperation to CPC during the inspections,” OMV’s spokesperson told Reuters by email, adding that “OMV Bulgaria does not comment on ongoing investigations”.

The Bulgarian Petrol and Gas Association, which represents all the investigated companies, has said there are no cartel agreements between any of its members.

The commission had already raided the Bulgarian offices of Lukoil Bulgaria, Royal Dutch Shell, Rompetrol and Hellenic Petroleum earlier this month.

Full Content: Reuters

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