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India: CCI to pursue information of alleged pricing cartels within oil companies

By  |  January 7, 2013
India: CCI to pursue information of alleged pricing cartels within oil companies

The oil market is reportedly under watch by the Competition Commission of India, which has recently announced that it will look into the market’s companies’ pricing strategies and investigate the alleged cartelization existing between the corporations to fix fuel prices. In response to a notice delivered by the CCI to the Petroleum Ministry, the Ministry has said it takes no responsibility in petrol pricing, as the industry is now deregulated. According to a CCI statement, gas pricing has some “ambiguity,” with uncertainties as to whether pricing was set by the Ministry or by the individual oil companies. In response to the Ministry’s comments, the CCI said it will now pursue information from the oil companies.

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