Department calls for CCPC investigation into price increases on fuel amid Middle East conflict

Vivienne Clarke

The Minister for Enterprise, Trade and Employment, Peter Burke, is calling for a “short investigation” by the Competition and Consumer Protection Commission into price increases in fuel in the wake of the Middle East conflict.

“Hopefully within the next month I'm looking for a short investigation to look and see exactly the examples in relation to where prices have gone up very significantly that are not reflected in the international markets,” he told RTÉ radio’s Morning Ireland.

Burke said he would be meeting with representatives of the fuel industry later this week, where he would be advising them that the CCPC is investigating the sector and asking them to set out the rationale for price increases.

“When we look at what's happening in international markets, it is telling a very different story, and it's my job to protect the consumer.”

The Minister said Ireland had very strong and robust competition law, which stated very clearly that if there was collusion or unfair practices, if competition law had been breached, “we will take action through the courts and there is administrative fines which are very significant for those companies.

“I think we really need to look at what's happening in the market place right now because what's very clear to me over the last number of days, what's happening in the international markets in terms of the price of crude oil bears no reflection what's happening in the Irish market where we've seen (increases) upwards of 50 per cent by some consumers from their suppliers."