Bulgaria to Fine 4 Fuel Retailers over Price Cartel - Report
Bulgaria's anti-trust regulator has decided to slap fines on four major fuel retailers for conspiring to increase fuel prices, according to local media reports.
The Commission for Protection of Competition launched the probe in the summer of 2011, encompassing Lukoil Bulgaria, Naftex Petrol, Rompetrol and OMV, 24 Hours daily reported, citing a document by the regulatory body that it has obtained.
The commission is also investigating whether Lukoil Bulgaria, controlled by Russia's Lukoil, abused its dominant market position.
The news comes as hundreds of Bulgarian drivers staged numerous rallies across the country to protest fuel prices. Local consumers say they are being over-charged by Russian-owned company Lukoil Bulgaria.
Under local competition law fines for cartel agreements should total up to 10% of the turnover of the companies involved during the previous year.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » France has filled its Gas Storages to 100%
- » A Global Manufacturer from the Automotive Industry will invest in Bulgaria
- » For the first Nine Months of 2022, St. Nikola Wind Farm generated 7% more Energy Y/Y
- » Voter Turnout at 17.6% by 13 pm: Survey
- » Europe Gaming Market Value In 2022
- » The Bulgarian-Greek Gas Connection was officially launched in Sofia (UPDATED)