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22 June, 2024
 
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Major fuel companies accused of violating competition law in Cyprus

Cyprus Association of Petrol and Liquid Fuels Distributors files complaint against Petrolina, EKO Cyprus, Coral Energy Products Cyprus, and ExxonMobil Cyprus

Today, the Cyprus Association of Petrol and Liquid Fuels Distributors filed a complaint against four major fuel companies: Petrolina, EKO Cyprus, Coral Energy Products Cyprus, and ExxonMobil Cyprus. The complaint accuses these companies of violating the Competition Protection Law of 2022.

The Association claims that these companies have been using unfair wholesale prices for liquid fuels through excessive pricing at their service stations. They also accuse EKO, Petrolina, and Coral of using a margin squeeze practice to apply unfair prices.

In addition, the complaint alleges that EKO has been applying unequal terms on equivalent transactions and showing preferential behavior towards specific companies. This has placed neighboring service stations operating under the EKO brand at a competitive disadvantage.

The complaint also asserts that all four companies have violated the law by prohibiting reciprocal supplies between service station operators. Petrolina is further accused of imposing a non-proportional non-competition clause in its agreements with service station operators.

[With information from CNA]

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Cyprus  |  energy  |  fuel

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