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2 Fuel Distributors in Bulgaria Fined over Cartel Probe
2 FUEL DISTRIBUTORS IN BULGARIA FINED OVER CARTEL PROBE
Date: 15/04/2011
Source: novinite.com
2 Fuel Distributors in Bulgaria Fined over Cartel Probe

Bulgaria's anti-trust commission has fined two fuel distributors over their failure to cooperate in a probe into an alleged fuel price cartel that was launched amidst drivers' protests last month.

Litex AD has been slapped a fine of BGN 12 343 and Petrol AD - BGN 12 000.

The sanctions represent a percentage of the total turnover of the companies for 2009, the Bulgarian Commission on Protection of Competition (CPC) said.

Litex AD and Petrol AD were required to supply information to the CPC by March 25 2011, thereby assisting a sector analysis of the competitive environment in the production and sale of gasoline and diesel fuel.

The anti-trust watchdog sent Litex AD a last notice on April 13, demanding the information and the documents for a second time, but the request remained unanswered.

Petrol AD asked for an extension of the deadline but failed to provide the required data despite the granted deferral.

As the two companies did not provide the information requested by the CPC, the competition regulator imposed sanctions, citing obstruction of ongoing inspections and denial of cooperation

The rulings of the CPC are subject to appeal.


Topic: Economy



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