EU orders probe into petrol price 'manipulation'
Wednesday, May 15, 2013 @ 11:37 AM
BRUSSELS has opened an inquiry into petrol companies for possibly 'manipulating' prices.
Several companies in two EU member States are under scrutiny for allegedly 'providing distorted information about petrol prices' to the relevant authorities with 'the intention of illegally adjusting prices to the consumer'.
According to the EU, the companies in question 'may have prevented their competitors from participating' in the price evaluation process – also in order to 'manipulate their end prices'.
If these practices are confirmed, the offending companies will be considered to be in breach of European Directives covering fair competition and could face substantial fines.
Read more at thinkSPAIN.com