Competition authority finds no price gouging on fuel despite hundreds of complaints

The competition authority found no legal breaches behind soaring fuel costs despite 900+ complaints, attributing hikes to global wholesale prices.

The Commission said that it received over 900 complaints since March 2 and while fewer than 5% of them “reported specific consumer protection issues with certain home heating oil suppliers” it found the “vast majority” of the complaints examined articulated high levels of “consumer distress and frustration at very sudden and significant price rises across essential fuel products”.

The competition authority has said that it has not seen any breaches of the law relating to the recent surge in fuel costs after receiving over 900 complaints about the price hikes since the start of last month.

The Competition and Consumer Protection Commission (CCPC) published an analysis that found the sharp increase in prices were being driven by wholesale costs resulting from the war in Iran and the subsequent closure of the Strait of Hormuz where 20% of the world’s oil supplies pass through.