Fuel sellers warned publicly commenting on prices can affect competition
The Competition Authority has recommended that fuel retailers not publicly comment on fuel prices or possible price changes to avoid breaking commercial rules. The agency said it would not restrict companies' public communications.
The agency sent fuel retailers a recommendation drawing attention to the competition law risks associated with price signals given in public communications.
At the same time, public and market participants' interest in how fuel prices are formed and in the content of public messages concerning them has increased.
The agency said competition functions effectively above all when companies make their decisions independently and do not have information about their competitors' future intentions.
Public hints about price changes or market strategies may, however, provide guidance to competitors and reduce their uncertainty regarding future market behaviour, the press release noted.
"Therefore, the Competition Authority calls on companies to refrain from public price messages that may reduce the uncertainty necessary for competition to function," the statement added.
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