{"id":19768,"date":"2022-03-24T10:22:31","date_gmt":"2022-03-24T10:22:31","guid":{"rendered":"https:\/\/forecourtretailer.com\/?p=19768"},"modified":"2022-03-24T10:22:31","modified_gmt":"2022-03-24T10:22:31","slug":"suppliers-involved-in-fuel-pricing-fixing-cartels-could-face-10-years-in-prison-watchdog","status":"publish","type":"post","link":"https:\/\/forecourtretailer.com\/suppliers-involved-in-fuel-pricing-fixing-cartels-could-face-10-years-in-prison-watchdog\/","title":{"rendered":"Suppliers involved in fuel pricing fixing cartels could face 10 years in prison: watchdog"},"content":{"rendered":"
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Ireland’s consumer watchdog has warned that fuel suppliers involved in cartels face up to 10 years in jail after it launched an investigation into allegations of collusion over fuel prices at filling stations.<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Jeremy Godfrey, chairman of the Competition and Consumer Protection Commission (CCPC), urged whistleblowers to come forward to help the investigation, saying they would be protected.<\/p>\n

The CCPC said it has received almost 200 complaints from the public and public representatives about fuel prices in the past two weeks after controversy about alleged price gouging on forecourts. This followed a Government move to lower excise duty on fuel in response to soaring costs after Russia invaded Ukraine.<\/p>\n

\u201cIn general, these complaints allege that filling stations failed to pass on the duty excise reduction in a timely manner or that they have exploited the current economic situation to raise fuel prices and increase profits,\u201d Mr Godfrey told the\u00a0Oireachtas\u00a0committee on enterprise.<\/p>\n

\u201cSome of the complaints include allegations of collusion and a few contain information about price movements at particular filling stations.\u201d<\/p>\n

He said the CCPC was also dealing with a number of complaints relating to \u201callegations of filling stations turning off their roadside pricing display. We urge anyone who has specific information about collusion or any other breach of competition and consumer protection law to provide it to us.\u201d<\/p>\n

Mr Godfrey said the first cartel members to provide the CCPC with information about a cartel \u201ccan apply for immunity from criminal prosecution\u201d.<\/p>\n

\u201cPenalties for the other cartel members, if they are found guilty of breaching competition law, can include large fines and a maximum of 10 years imprisonment for the individuals involved,\u201d he added.<\/p>\n

The CCPC is assessing the complaints about fuel prices at the pumps received in recent weeks and is \u201cengaging with complainants and the industry\u201d to assess any evidence that might indicate \u201ccollusive practices\u201d.<\/p>\n

It has already warned one fuel trader association and two fuel companies \u2013 whom he did not name \u2013 about the risks, under consumer and competition laws, of making statements on future fuel price hikes, the committee heard.<\/p>\n

The Oireachtas transport committee also heard that Irish oil companies who are no longer buying Russian oil are paying a higher price for the fuels they purchase on the international market.<\/p>\n

Fuels for Ireland chief executive Kevin McPartlan said some firms had decided to do this to reflect the views of consumers on the Russian invasion of Ukraine, which had \u201ccreated significant challenges\u201d for an industry already facing problems.<\/p>\n

Mr McPartlan said demand was already reportedly outstripping supply as the world emerged from the Covid-19 pandemic. The Organisation of Petroleum Exporting Countries had refused to increase production and sanctions imposed on Iran were all having a \u201cserious impact\u201d.He said that before the invasion there was \u201ca pinch on supply\u201d and rising international wholesale prices.<\/p>\n

Fine Gael TD Joe Carey asked organisations appearing before the committee for forecasts on the market amid speculation that fuel prices at the pump could reach \u20ac3 per litre.<\/p>\n

Mr McPartlan said things had been so volatile that \u201cit would be it would be foolish to try and make any great predictions\u201d. He also said there is \u201ca two-tier international wholesale market. There is a market for those who are prepared to buy Russian fuel and then there is a market for everybody else.<\/p>\n

\u201cAnd people who are prepared to buy Russian fuel can get wholesale prices far, far lower,\u201d he said. He added that he did not know the exact difference, but that it is \u201csubstantial\u201d.<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Ireland’s consumer watchdog has warned that fuel suppliers involved in cartels face up to 10 years in jail after it launched an investigation into allegations<\/p>\n","protected":false},"author":13,"featured_media":19769,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[684,2793,2965,1397,2962,2964,549,553,824,2937,2963,2966,2967],"yoast_head":"\nSuppliers involved in fuel pricing fixing cartels could face 10 years in prison: watchdog - Ireland's Forecourt & Convenience Retailer<\/title>\n<meta name=\"description\" content=\"Ireland's consumer watchdog has warned that fuel suppliers involved in cartels face up to 10 years in jail after it launched an investigation into allegations of collusion over fuel prices at filling stations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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