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Consumer watchdog says it has ‘no role’ in regulating petrol price hikes after TDs raised concerns about ‘price hole-in-the-wall’

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The consumer price watchdog has said it has “no role” to play in monitoring price increases after TDs wrote a letter to the Competition and Consumer Commission (CCPC) calling for an investigation. fuel pump price increase.

Mr Taoiseach hit “completely unacceptable” price increases at gas stations last night before the Government cut the excise tax at midnight.

“Any exploitation in a barbaric war like this is morally reprehensible,” he is understood to have told Fianna Fáil TDs and Senators last night.

TD Joe Flaherty called on the CCPC to intervene and it is believed Mr Martin said the watchdog could have some role to play.

However, the Commission said today that it is “not a price regulator and has no role in overseeing price levels across the economy”.

“If businesses collude to fix prices this is cartel behavior, the CCPC can investigate and refer a case to the DPP for criminal prosecution,” they said in a statement.

Several complaints have been filed with the watchdog about recent price increases for fuel pumps, Fianna Fáil TD Barry Cowen raised concerns in a letter to the watchdog today saying the agency should investigate costs at the pump “that have increased dramatically overnight – sometimes seemingly by the sum expected by the Government of excise tax cuts on petrol and diesel”.

“I believe it is essential that the Consumer Protection Commission look into this matter. I urge you to act immediately and give this investigation [sic] full priority,” he wrote.

Social Democrat TD Jennifer Whitmore also wrote to the watchdog, saying she’s received “dozens” of reports that fuel prices from around the country are rising “a number of times” during the day, simultaneously”.

“The CCPC has a mandate to promote competition and consumer welfare, and to investigate, enforce, and promote competition law compliance and consumer protection,” she said.

“Given the extreme hardship these terrible price hikes are causing to consumers and businesses across the country, I hope it opens a prompt investigation.”

https://www.independent.ie/irish-news/consumer-watchdog-says-it-has-no-role-in-policing-petrol-price-increases-after-tds-raise-concerns-of-price-gouging-41433191.html Consumer watchdog says it has ‘no role’ in regulating petrol price hikes after TDs raised concerns about ‘price hole-in-the-wall’

Fry Electronics Team

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