CCI likely to investigate oil marketing cartels
24 Sep 2012 12:07 AM GMT
The Competition Commission of India [CCI] may soon ask its investigation wing to carry out a detailed investigation into the alleged cartel-like behaviour of oil marketing companies increasing and decreasing prices of petrol in unison.
'Prima facie evidence suggest that the case pertaining to cartel-like behaviour of OMCs, does deserve a more detailed examination by the office of the director general, and we will soon take a view on it,' a CCI source said.
The Commission is expected to make a final decision in this regard in the first fortnight of October.
 After carrying out an initial enquiry on the matter, the CCI found that 'there was no valid reason why OMCs - Indian Oil, Hindustan Petroleum and Bharat Petroleum - were increasing and decreasing price of petrol in unison, as the product was already decontrolled'.
The official said, 'Such a behaviour of the OMCs was limiting competition in the market and not giving consumers the opportunity to choose the best price.'
'Prima facie evidence suggest that the case pertaining to cartel-like behaviour of OMCs, does deserve a more detailed examination by the office of the director general, and we will soon take a view on it,' a CCI source said.
The Commission is expected to make a final decision in this regard in the first fortnight of October.
 After carrying out an initial enquiry on the matter, the CCI found that 'there was no valid reason why OMCs - Indian Oil, Hindustan Petroleum and Bharat Petroleum - were increasing and decreasing price of petrol in unison, as the product was already decontrolled'.
The official said, 'Such a behaviour of the OMCs was limiting competition in the market and not giving consumers the opportunity to choose the best price.'
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