BERLIN (Reuters) – Germany’s antitrust watchdog said it was investigating the impact of price information services provided by Argus Media and S&P Global on the fuel wholesale market, after an initial investigation raised pricing and competition concerns.
Price quotations are usually linked to wholesale procurement contracts and can indirectly influence retail prices.
They are provided by price-reporting agencies such as S&P Global Commodity Insights (Platts) and Argus Media, based on reported transactions.
Argus Media and S&P Global Commodity Insights (Platts) were not immediately available for comment.
Last month, the cartel office said an examination into oil market price quotations showed pricing based on limited data which was vulnerable to manipulation, and it urged stronger regulations.
“We see indications of such a structural disruption of competition in the fuel wholesale trade,” said Andreas Mundt, the watchdog’s president, in a statement on Thursday.
The office said it will use new powers obtained in 2023 to investigate whether there was a significant and ongoing competition disruption in individual markets or across markets, which it would address the causes of if confirmed.
(Reporting by Riham Alkousaa in Berlin, Ahmad Ghaddar in London; Editing by Miranda Murray)
