Albania’s Petroleum Market Manipulated

Tirana, Dec. 16, 2008 (AENews) – A probe from Albanian’s Competition Authority, ACA, has found the country’s petroleum market has serious competitive restrains in almost every segment, ACA declared today.

“After two years of investigation, we found that companies act in coordination with each other and some of them have enough market share to control prices”, ACA said.

ACA invited companies under investigation to read the final report and to present their explanations before final decision. ACA can fine companies up to 10% of their last year revenues, a fine that could amount at several million euro.

ACA investigated in the past Albania’s telecommunication market and the construction industry.

In 2007, after it has reviewed the issues of abuses of the two main companies in the mobile phone market with their dominant position, concluded that both companies had established abusive fees to their costumers during the period of inquiry 2004-2005.

“AMC” and “Vodafone” were fined with 2 per cent of their 2005 annual turnover.

However, the government of Albania has refused till now to dispense those fines. The Ministry of Finance claims that is not its job to collect the fines.

Short URL: http://www.albanianeconomy.com/news/?p=1050

Posted by editor on Dec 16 2008. Filed under Business, Economy, Invest-Inform. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry