Fuel firms ‘violate law’ in Cyprus

The Cyprus Association of Petrol and Liquid Fuels Distributors on Tuesday filed a complaint against four major fuel companies on the island: Petrolina, EKO Cyprus, Coral Energy Products Cyprus, and ExxonMobil Cyprus.

The complaint accuses these four companies of violating the country's 2022 Competition Protection Law.

The association claims that these firms have been using unfair wholesale prices for liquid fuels through excessive pricing at their service stations. It also accuses EKO, Petrolina and Coral of using a margin squeeze practice to apply unfair prices.

In addition, the complaint alleges that EKO has been applying unequal terms on equivalent transactions and showing preferential behavior toward specific fuel stations. This has placed neighboring service stations operating under the EKO brand at a competitive disadvantage.

The complaint also...