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GVH to complete MOL pricing investigation by autumn

Hungary's Competition Office (GVH) will complete a pricing investigation of oil and gas company MOL by autumn, GVH chairman Zoltán Nagy said at a press conference on Tuesday.

MOL has provided GVH with all of the information it has requested, Nagy said. GVH announced in May that it launched the procedure on the suspicion the oil and gas company used its position as market leader to keep wholesale vehicle fuel prices artificially high since the start of 2006. GVH based its suspicion on market information, but noted the procedure does not mean MOL broke the law.

MOL told MTI at the time that it was cooperating with GVH but would not comment on an ongoing matter.

GVH has launched similar procedures against MOL twice in the past ten years. It did not establish MOL abused its market position in either case. (MTI-Econews)