Watchdog Begins Deliberations on Oil Refiners over Alleged Price Rigging
6 Articles
6 Articles
The Fair Trade Commission has launched deliberations on two oil refiners suspected of exchanging price information on gasoline, diesel, and kerosene for approximately four years and colluding on prices immediately following the U.S.-Israel and Iran wars. On the 7th, the KFTC Secretariat [announced] corrective measures and regarding the collusion allegations against SK Energy and HD Hyundai Oilbank
(Sejong=Yonhap News) Reporters Kim Soo-hyun and Im Seong-ho = Taking advantage of the instability in international oil prices caused by the Russia-Ukraine war and the U.S.-Iran war, two oil refineries [sold] gasoline, diesel, etc...
South Korea's antitrust watchdog on Wednesday began deliberations on two local oil refiners after an examiners' report allegedly the companies had unlawfully exchanged information and rigged prices. The Fair Trade Commission (FTC) said its examiners' report recommended imposing fines and issuing corrective orders against SK Energy Co. and HD Hyundai Oilbank Co. for exchanging information or colluding on the prices of gasoline, diesel and kerosen…
The Fair Trade Commission (FTC) has initiated sanctions proceedings against SK Energy and Hyundai Oilbank, alleging that they exchanged price information on petroleum products sold at gas stations for over four years and even colluded on sales prices immediately following the war between the U.S. and Iran. On the 7th, the FTC announced that it had sent an examination report to SK Energy and Hyundai Oilbank, applying charges of violating Article …
[Digital Daily Reporter Hwang Jin-hyun] SK Energy and Hyundai Oilbank are set to face judgment by the Fair Trade Commission over allegations of price collusion regarding gasoline, diesel, and kerosene. The Secretariat of the Fair Trade Commission announced on the 7th that it had submitted an investigation report to the Commission, concluding that the two companies exchanged information regarding petroleum product prices for approximately four y…
It is suspected that SK Energy, the “Big 4” domestic refinery, and HD Hyundai Oil Bank exchanged price information and colluded prices using a situation where oil prices plummeted due to the global geopolitical crisis.
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