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Hong Kong: Competition Commission may investigate suspicions over gas price coordination

By  |  December 3, 2012

Hong Kong’s Competition Commission could be investigating Caltex and Shell, two oil giants who have seemingly raised and lowered their gas prices on coordinating intervals. Records show that the two companies adjusted their pries 29 times either the same day or the day after each other between early January and the end of November. Experts say the reports are conspicuous and suggest coordinated price-fixing. On the other side of the argument, some experts say that because the two companies are global entities, their cost structures are similar and may lead to similar habits in pricing.

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