Bulgaria’s Anti-Trust Body Launches Probe of Fuel Retailers, Oil Refinery
Business | February 25, 2016, Thursday // 21:21
- Tweet
Send to Kindle
Bulgaria’s anti-trust regulator has launched a probe of seven petrol and diesel retailers over suspected price-fixing.
A separate investigation of potential abuse of dominant wholesale market position has been launched against Bulgaria’s sole oil refinery Lukoil Neftochim Burgas, the Commission for Protection of Competition (CPC) said in a statement on Thursday.
The seven fuel retailers under investigation are Shell Bulgaria,Rompetrol Bulgaria, Eco Bulgaria, OMV Bulgaria, Petrol, NIS Petrol, and Lukoil Bulgaria.
The probe against them was launched after the CPC adopted a sector analysis which showed that they had kept their prices at high levels for long periods of time and failed to react in a timely and adequate manner to decreases in wholesale price and production prices, “which could be the result of anti-competition practices - cartel agreements”, according to the statement.
In the case of Lukoil Neftochim Burgas the sector analysis showed that the refinery had sold automotive fuels in Bulgaria at higher prices compared to the company’s export prices.
“This could mean that the producer prices of oil products in Bulgaria could be influenced by factors other than the market, which could allow Lukoil Neftochim to gain additional economic benefits inside the country, especially in view of its special position of a prominent market leader in the production and import of fuels,” the CPC said.
Bulgaria to Rely on Diaspora, Not Foreign Workers, for Labor Market Growth
Outgoing Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev addressed the issue of labor imports in parliament, stating that bringing in workers from non-EU countries is only a temporary solution.
Bulgaria Says EU-Mercosur Deal Won’t Harm Its Economy
Bulgaria’s outgoing Agriculture Minister Georgi Tahov has assured that the European Union’s trade deal with Mercosur will not negatively affect the country’s economy, pointing to the very limited trade between Bulgaria and the South American bloc.
Bulgaria Maintains Europe’s Lowest Household Electricity Prices, Minister Says
Energy Minister Zhecho Stankov has firmly rejected claims by former Finance Minister Asen Vassilev from "We Continue the Change" that Bulgaria’s inflation is driven by high household electricity prices
Chairman of Bulgaria's Fiscal Council: Euro Transition Smooth, Prices Already Raised and Won’t Drop
Simeon Dyankov, chairman of Bulgaria’s Fiscal Council, has warned that price increases implemented by traders are likely to remain in place despite new laws and fines
Bulgarian Passport Ranks 11th Globally, Offering Visa-Free Travel to 178 Destinations
The Bulgarian passport offers its holders visa-free access to 178 countries and territories, placing it 11th globally for travel freedom and expedited border crossing, according to Henley & Partners.
The U.S. and Bulgaria Expand Civil Nuclear Energy Partnership on Small Modular Reactors under the FIRST Program
The U.S. Department of State, the University of National and World Economy (UNWE), and Bulgarian Energy Holding (BEH) yesterday concluded two seminars on stakeholder engagement and industrial applications of small modular reactors (SMRs)
