The Competition Authority announces that, based on Law No. 9121/2003, it has started monitoring the wholesale and retail fuel market, with a special focus on gasoline and diesel prices at retail points of sale.
We would like to inform you that all companies engaged in the fuel trading business are currently under monitoring by the Competition Authority. In the event that price fluctuations are observed that exceed the level of price changes on international stock exchanges, pursuant to Law No. 9121/2003, the Authority will take the necessary measures within its competence.
In practice, fuel prices in international markets are constantly updated, reflecting factors such as supply, demand, processing costs, and other economic or geopolitical developments. Consequently, according to the standards of fair competition, price fluctuations in the domestic market are expected to follow the same direction and be proportional to the extent of the changes recorded on the stock exchange. Any unjustified deviation, even an uncoordinated increase that is faster or more pronounced than the international price trend, constitutes a possible indicator of uncompetitive behavior in the market.
The Competition Authority emphasizes that it will not tolerate unjustified price fluctuations, practices that contradict the logic of the international market, as well as any possible form of price coordination, abuse of dominant position or coordinated practices between market operators.
With this monitoring process, the Authority aims to guarantee transparency, regular market functioning and consumer protection from unfair prices or anti-competitive behavior.
We clarify that, in accordance with the mission and defined competencies of the Competition Authority, all monitoring and possible investigative procedures are carried out only in accordance with Law No. 9121/2003 “On the Protection of Competition”, without being combined with the attributes belonging to other law enforcement institutions in the country.
