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India: CCI wants investigation against oil marketing companies

By  |  September 24, 2012

The Competition Commission of India (CCI) may soon ask its investigation wing to carry out a detailed investigation into the alleged cartel-like behavior of oil marketing companies increasing and decreasing prices of petrol in unison. After carrying out an initial enquiry on the matter, the CCI found that “there was no valid reason why OMCs — Indian Oil, Hindustan Petroleum and Bharat Petroleum — were increasing and decreasing price of petrol in unison, as the product was already decontrolled”.

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