The Hong Kong Competition Commission will release a study on petrol prices and competition conditions of the auto fuel market in the next two months. This is do to many claims and complaints that oil firms may be operating like a cartel.
At a Legislative Council economic development panel meeting the commission revealed the timeline as legislators expressed concern that fuel prices “quickly go up, but are slow in coming down.”
Democratic Alliance for the Betterment and Progress of Hong Kong vice chairman Holden Chow Ho-ding said: “Fuel companies are always suspected to be involved in price-fixing activities. Does the commission have a timeline of the study of the auto fuel market in Hong Kong?”
Commission senior executive director Rasul Butt said: “The report will be released by the end of April or early May. It will not only cover petrol prices, but also cover the problems of market structure.
“For example, if we need to have more competitors to create better conditions for competition in order to lower price.”
Legislators were also told the commission has received more than 2,000 complaints and inquiries in the period from December 2015 – when the commission became fully operational – to last month.
Full Content: The Standard
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI