02 May 2012 17:44 [Source: ICIS news]
Under proposed legislation, the operators of
The move comes amid complaints about rising prices and unpredictable pricing policies on
Economics minister Philipp Rosler said that the current pricing of fuels at petrol stations was not transparent.
“I can understand that drivers are angry about the constant up and down of fuel prices at the pump,” he said.
Rosler added that the new agency would help competition authorities to determine whether oil firms are abusing their market power.
The watchdog would be set up in a way to avoid unnecessary bureaucracy, he added.
Furthermore, the watchdog would not change the reality that the primary reason for rising gasoline and diesel prices are rising prices of crude oil, MWV general manager Klaus Picard said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|