x

Economy

Greece’s Competition Commission Fuel Market Investigation Reveals Problems

ATHENS – Greece’s Competition Commission on Thursday announced that it expects to complete its investigation into the operation of the liquid fuel market in the country by the end of July but that the early indications “show the existence of a phenomenon of asymmetric price adjustment in the Greek market at the level of retail trade”.

According to the announcement, once it has a deeper understanding of the market’s operation, it will be able to make well-informed suggestions for increasing competition and lifting regulatory hurdles, “contributing in a scientifically supported manner to the public debate on drafting policies with the aim of strengthening free competition in the oil products sector.”

It did not rule out the possibility of imposing regulatory measures for the sector if it determines that conditions of effective competition do not exist.

According to the announcement, this involves the first “charting” of competition conditions in the sector, using the new tools added to its remit by legislation passed in 2022, which permit the commission to study conditions in any market or economic sector in the framework of exercising its role.

The charting process was launched on March 22 by the General Directorate for Competition in cooperation with specialist experts in Greece and data scientists, while in September 2021 the same authority had launched an inspection of the market for possible uncompetitive practices.

RELATED

ATHENS - With Greece being a hotspot tourist destination in 2023 and people traveling with the waning of the COVID-19 pandemic, the country’s hotels experienced a 23% increase in turnover, raking in €10.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Fire Breaks Out at Apartment Building Near the Offices of TNH (Vid & Pics)

LONG ISLAND CITY, NY – A fire broke out in an apartment building about a block from the offices of The National Herald in Long Island City on February 21.

NEW YORK - Charles H. Dallara, the former Managing Director of the Institute of International Finance (IIF) and a central figure in the 2012 restructuring of Greece's debt, has penned what Nick Gage describes as a "riveting narrative" of those tumultuous times.

CULVER CITY, Calif — President Joe Biden said Wednesday that while a college degree was still a ticket to a better life, that ticket is often too expensive, as he announced he was canceling federal student loans for nearly 153,000 borrowers.

XINJIANG  - Chinese police are investigating an unauthorized and highly unusual online dump of documents from a private security contractor linked to the nation's top policing agency and other parts of its government — a trove that catalogs apparent hacking activity and tools to spy on both Chinese and foreigners.

WASHINGTON — Donald Trump's legendary ability to raise massive sums of political cash may be on a collision course with a new and unpleasant reality.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.