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The Federal Cartel Office is examining the development of diesel prices.
The Federal Cartel Office has responded to a letter from the Taxi and Rental Car Association of Germany dated March 6 regarding the development of diesel prices. As is evident from the reply dated March 10, the president of the agency, Andreas Mundt, has taken up the association's remarks on the current price development as well as on possible measures and has partly forwarded them.
Information forwarded to the Market Transparency Unit
According to the authority, the notice of an immediate antitrust review of the price development of diesel fuel was transmitted to the Market Transparency Unit for Fuels, housed at the Federal Cartel Office. This unit continuously monitors price movements on the fuel market.
At the same time, the Federal Cartel Office is continuing an already ongoing procedure in the area of refineries and fuel wholesale. In this context, the authority is pursuing potential distortions of competition.
Limited scope for intervention in geopolitical effects
At the same time, the Federal Cartel Office makes clear that there is no antitrust instrument or other mechanisms to immediately prevent or mitigate geopolitically induced price increases. Price developments that are due to international crises or political tensions escape direct regulatory access.
Nevertheless, current developments on the fuel markets are being taken seriously. This applies particularly to anomalies as well as to indications about the price situation domestically and abroad.
Association sees concerns being taken into account
Germany's Taxi and Rental Car Association regards the authority's prompt response as a positive signal. According to the association, the reaction shows that the industry's concerns are being considered by the competent authorities, even if short-term interventions are not possible. (Source: TMV)
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