"The distress and concern we heard from consumers was very real. A large number of consumers suspected that recent price increases were illegal and motivated in significant part to increase profits."
"Controlling prices in competitive markets is outside the scope of competition and consumer protection law. As a result, complaints relating solely to price increases would not constitute a breach of these laws."
The Competition and Consumer Protection Commission (CCPC) found that recent price increases at forecourts were due to rising wholesale costs, not price gouging. Although some consumer protection issues were noted, no breaches of law were identified. The CCPC received over 1,000 complaints, mostly expressing frustration over price hikes. They reminded the home-heating oil industry of their legal obligations to explain pricing. Investigators are engaging with consumers and companies to address specific complaints, acknowledging the distress felt by consumers regarding the legality of price increases.
Read at Irish Independent
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