Competition watchdog to probe petrol price fixing

By Indo Asian News Service | Saturday, March 16, 2013 | 8:12:09 PM IST (+05:30 GMT) Comment 0 Comment

New Delhi, March 16 (IANS) The Competition Commission of India (CCI) said Saturday it would shortly finalise the probe into alleged fixing of petrol prices by cartelisation among oil marketing companies (OMCs).

New Delhi, March 16 (IANS) The Competition Commission of India (CCI) said Saturday it would shortly finalise the probe into alleged fixing of petrol prices by cartelisation among oil marketing companies (OMCs).

"We are in the process of finalising the probe very soon.We are in the process of sending them (OMCs) an order which will ensure that there is investigation to see what is happening in terms of petrol prices," CCI Chairman Ashok Chawla told mediapersons here on the sidelines of a seminar organised by industry body Assocham.

The CCI, which is empowered to ensure fair trading practices, had written to the oil ministry on the issue, but the latter said it had no role in deciding the price of petrol as it was a deregulated product.

State-run OMCs Indian Oil, Bharat Petroleum and Hindustan Petroleum have virtual monopoly on crude oil imports and on the distribution of petroleum products.

On the issue of state miner Coal India's alleged abuse of its near-monopoly position, Chawla said the CCI had received the investigation report from its director general.

"The Commission as a whole will look at the matter and then take a decision," Chawla said.

Do you like this article?

Copyright  Indo-Asian News Service

User Rating  Rating(0 Votes)

Views  90

Readers Feedback & Discussion

Join India Forums for free to comment on this story. Have an account already? Login to comment.

News Business Articles Index

  

Articles in National, Business

Art - Culture Business Diaspora
Education Health Politics
Religion Sports Sci-Tech
Travel

AROUND THE WORLD NOW

Asia America Australia
Africa Europe Gulf-Middle East
Pakistan Nepal Bhutan
Sri Lanka Bangladesh Maldives

Disclaimer: All Logos and Pictures of various Channels, Shows, Artistes, Media Houses, Companies, Brands etc. belong to their respective owners, and are used to merely visually identify the Channels, Shows, Companies, Brands, etc. to the viewer. Incase of any issue please contact the webmaster.