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.
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