A PYMNTS Company

Spain: CNMC finds troubling trend in fuel market

 |  November 29, 2016

Spanish competition regulator CNMC has notified the country’s courts of a “high parallel pricing” in several gasoline products investigated by the Civil Guard law enforcement agency. The finding has quickly led to calls for a full investigation into possible price fixing by leading gas distributors Repsol, Cepsa, Disa and Meroil.

CNMC’s president José María Marín Quemada clarified that the fact that prices have risen in tandem in these markets is not enough to determine any unlawful or anti-competitive behavior. The agency would require solid proof to certify any price-fixing agreements that may have taken place among the companies in question.

“Only through gathering direct evidence (communications or agreements between competitors) have we in the past been able to verify the existence of horizontal, uncompetitive deals” said Marín, while urging the Spanish courts to authorize tougher probing techniques, such as dawn raids or the requisition of phone records.

Full Content: El Español

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.