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Singapore: Watchdog asking for petrol price hike explanation

By  |  February 25, 2015

The Competition Commission of Singapore has asked petrol companies to explain their fuel price adjustments, which came a day after a hike in petrol duty prices was announced in Finance Minister Tharman Shanmugartnam’s Budget speech on Monday.

The Ministry of Trade and Industry and CCS on Wednesday said in a joint statement that they “will not hesitate to take firm action against parties who are found to be engaging in anti-competitive behaviour at the expense of consumers”.

Consumer watchdog CASE has accused the petrol firms of “profiteering” and sent letters to the them, asking them to justify the price increases.

 

Full Content: Channel News Asia

 

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