BULGARIAN WATCHDOG FINES TWO FUEL DISTRIBUTORS

Bulgaria's Commission for Protection of Competition (CPC) said on April 15 that it had fined local fuel distributors Petrol and Litex over their lack of co-operation with the regulator's probe into the fuel market.

Litex has been fined 12 300 leva, while Petrol was imposed a smaller penalty of 12 000 leva.

The market study, prompted by the high fuel prices and the lack of price differences at different petrol stations, was initiated by the regulator on March 9. CPC had requested all fuel traders to submit information, including their sales contracts, by March 25.

Litex and Petrol, however, have failed to meet the deadline, CPC said.

"After failing to obtain the information requested by the parties, CPC concluded that the two companies have created obstacles in carrying out the study and impeded investigation of facts related to the commercial behaviour of companies in the production and sale of petrol and diesel fuel markets," the regulator said.

Several weeks earlier, CPC chairperson Petko Nikolov said the probe into the alleged price cartel on the fuels retail market would take up at least a year.