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CCI clears oil marketing firms of cartel charges

By  |  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

 

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