A PYMNTS Company

CCI clears oil marketing firms of cartel charges

 |  May 21, 2012

The Competition Commission of India has cleared oil marketing firms BPCL, HPCL, and IOC of price-fixing charges. Royal Energy had filed a complaint with the antitrust regulator, alleging that the three companies were engaged in a cartel to purchase bio-diesel at lower prices, instead of at the pre-determined rate. CCI ruled that since the government sets the price of diesel, the oil marketing companies cannot be forced to buy bio-diesel at prices that are higher than the price of the end product.

Full content: Economic Times


Related contentCompetition Commission of India’s Trysts with Law and Policy: Enforcement One Year On (Pallavi Shroff & Harman Sandhu, Amarchand & Mangaldas & Suresh A Shroff & Co)


Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.