The Cyprus Commission for the Protection of Competition (CPC) has unanimously decided to conduct a sectoral inquiry into the motor fuel market.

According to a statement by the Commission, the inquiry will cover the years 2023 and 2024 to provide a comprehensive overview of the market conditions during this period.

>>Fuel Price Disparities in Cyprus Raise Concerns Over Market Distortions<<

The CPC considered several factors in its decision, including the structure of the petroleum products market, information provided by the Ministry of Energy, Commerce, and Industry regarding the Retail Fuel Price Observatory, as well as various press reports and public statements. Additionally, the Commission noted the general perception that fuel prices differ by district and location.

Under Article 31 of the Law, the CPC is empowered to conduct inquiries into specific economic sectors or types of agreements across different market segments.

The Commission stated that the decision to conduct this inquiry is based on observed retail fuel price variations, which may suggest potential restrictions or distortions in competition within both the wholesale and retail markets in Cyprus.

The inquiry will specifically examine wholesale and retail pricing, along with supply terms for 95-octane gasoline, 98-octane gasoline, and diesel. The process will involve the collection and analysis of all necessary data to identify potential issues.

The CPC emphasized that it has the authority to collect information, obtain statements, and conduct on-site inspections as part of the investigation.

A sectoral inquiry is a tool the CPC uses to gather detailed information about a specific market. This helps identify possible barriers or distortions to competition.

Such inquiries are general in nature and focus on collecting market-wide information, without targeting specific businesses. Depending on the findings, the CPC may follow up with investigations into particular cases, though this is not a guaranteed outcome.