Spain: Competition and fall in oil prices could benefit consumers

Spain’s CNMC has declared that the arrival of more players at every stage of the hydrocarbons market would likely allow the current drop in global oil prices to translate into better prices for end consumers.

The Spanish competition regulator -which took a moment to remind the public that there are now Community Rules applicable to the sector – has pointed out that Spanish fuel prices are not as “efficient” as they might be, looking at examples such as France, Germany and the UK. “There are competitive restrictions, which raise the prices for end consumers beyond what they might otherwise be.”

The organism has asked for the Hydrocarbons Logistics Company (CLH) to allow for more efficient energy rates, which will allow the arrival of new operators in the Spanish wholesale market and retail sectors, which tend to favor price drops. “Competition is good for consumers, for the public sector and for all companies that use gasoline and gas oil as a necessary resource for their own activity. We are losing competitiveness as a country because of this lack of competition”, concluded the CNMC.

Full content: Agencia EFE

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.