Oil Cos Cause Problems, Not The Fiscal Policy – Romanian Econ Fin Min

"Given the low level of excises/taxes in Romania, I do not think a decrease in taxation would lead to pump prices for fuel. In Romania, the problem does not com from the fiscal behavior of the state, but from the conduct of companies. I think that, for the local oil products market, part of the solution involves the initiation, by the Competition Council, of investigations regarding the level of competition. In the context of talks regarding a potential merger between MOL and OMV, the European Commission will also conduct an investigation on the manner in which the oil product market functions, including in Romania," said Vosganian in a press release issued by the Ministry of Economy and Finance.

Contacted by MEDIAFAX, Competition Council officials did not offer a clear answer.

"The Competition Council initiated, in September 2005, an investigation targeting a potential violation of the provisions of the competition law, by the active players on the oil and oil products market, including fuels. The investigation targets the activity of all companies on the market and is unfolded over a longer period, given the evolution and dynamics of this market," the Council said.

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The institution also mentions that it does not have jurisdiction over the regulation of process, but on the sanctioning of anti-competition agreements, synchronized practices and the abuse of dominant position, which are aimed at restricting, preventing or distorting competition on the market or one segment of the market.