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Petrol industry in the price-fixing hot seat
A new investigation is being launched into alleged price-fixing - this time within the petroleum industry, the Competition Commission announced earlier today.
The Commission will be investigating companies such as Egoli Gas, Spring Lights Gas, and Coal Energy and Power Resources; and has already received an application for leniency from Sasol Gas.
Anti-competitive conduct with regards to a variety of products in the petrololeum value chain will also be under investigation, and the likes of past and present members of the South African Petroleum Industry Association (SAPIA) and the Southern African Bitumen and Tar Association (SABITA) will go under the spotlight.
The watchdog's statement reported that Sasol Oil, too, has applied for leniency in this matter, and seeks "to engage with Competition Commission on possible contraventions by Sasol Nitro division of Sasol Chemical Industries".
The investigation follows an initial complaint lodged by Nutriflo cc, which resulted in the uncovering of "evidence of anti-competitive conduct including of a collusive nature on the part of Sasol Nitro, a division of Sasol Chemical Industries Ltd, Yara (South Africa) (Pty) Ltd (formerly Kynoch) and Omnia Fertiliser Ltd, contravening section 4 of the Competition Act."
