Press Esc to close
Wednesday 22 October 2014
News updated at 7:18 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

CCI starts probe into alleged cartelisation in petrol prices

New Delhi, May 21, 2013, (PTI) :

Fair trade regulator Competition Commission has started investigation into alleged cartelisation by oil marketing companies in fixing petrol prices.

The Director General, the investigation arm of the Competition Commission of India (CCI), is probing the issue.

Without divulging specific details a senior CCI official said: "The Director General is investigating the case".


This move follows the Petroleum Ministry clarifying that it was not responsible for petrol prices since it is deregulated.

Earlier, the Commission had written to the Petroleum Ministry to ascertain whether the pricing by companies is done in a particular manner under the guidance of the Ministry, since petrol prices are almost close to each other and they moved up or down at the same point in time.

"They (Petroleum Ministry) have given us a reply, which clearly indicates that they are in no way responsible.

On petrol, which is deregulated, they said, whatever is done is being done on the basis of some pricing formula. It is not our concern, that is what the Petroleum Ministry has said," Commission Chairman Ashok Chawla had said in January.

The Commission refers cases to the Director General only when it is convinced that there is prima facie evidence of violating competition norms.

Go to Top

Photo Gallery
A major fire that broke out in the crackers market in Faridabad...

A major fire that broke out in the crackers market in Faridabad...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

On the eve of Diwali Renowned sand artist Sudarsan Pattnaik created a sand sculpture of Kali...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian passengers rest on a crowded platform ahead of Diwali, the Hindu festival of lights...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Indian soccer player Peter Biaksangzuala, center, performs flips as he celebrates a goal...

Woman buying earthen lamps at a market ahead of the Diwali festival...

Woman buying earthen lamps at a market ahead of the Diwali festival...

School children paint their faces during Diwali celebrations...

School children paint their faces during Diwali celebrations...

A huge rangoli in front of Swaminarayan Temple...

A huge rangoli in front of Swaminarayan Temple...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Volunteers of Azad Hind taking out a procession to mark the Azad Hind Foundation Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

Family members paying tribute to police martyrs during Police Commemoration Day...

TRS activists set affire chairs at the TDP office in Nalgonda...

TRS activists set affire chairs at the TDP office in Nalgonda...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523