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India: Watchdog looks to uncover alleged petrol cartel

 |  May 21, 2013

The Competition Commission of India has launched an inquiry to discover whether allegations of an existing cartel within the nation’s gas market are accurate. While the regulator declined to elaborate on the probe, the CCI did confirm that it is looking into whether oil marketing companies fixed gas prices. The news follows a recent claim by the Petroleum Ministry washing its hands free of any blame for gas prices as the market is deregulated. The Commission had previously asked the Ministry whether it provides guidance on pricing practices, and has since stated that the Ministry is “in no way responsible” for price changes.

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