The German government is planning to expand the powers of its antitrust authorities. The move comes after recent measures to compensate for rising gasoline prices have turned into a profit windfall for oil companies.
German Economy Minister Robert Habeck has moved to empower Germany’s antitrust authorities to take away disproportionate profits from companies that agree on prices across markets.
The plans, unveiled on the ministry website on Sunday, include measures making it easier to both break up cartel-like structures, to skim off excess profits that have been made through cartels, and make investigations more wide-ranging.
The move follows mounting criticism of the government’s attempts to reduce gasoline prices for German motorists. Gas prices in Germany, like everywhere else, have been rising significantly since the start of Russia’s war on Ukraine, with all five major companies (Shell, BP-Aral, Esso, Jet, and Total) raising them in parallel with one another. The German government slashed taxes on gasoline and diesel for three months as of June 1, but analyses — and plenty of anecdotal evidence on social media — suggest that prices haven’t really been sinking.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Lawmaker Probes FTC and EU’s Role in Amazon’s Failed iRobot Acquisition
May 2, 2024 by
CPI
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Healthcare Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 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