CCC Completes Preliminary Assessment of LPG Markets
20 July 2023
The CARICOM Competition Commission (“the Commission”) has concluded a preliminary assessment of a pricing matter related to the market for Liquified Petroleum Gas (LPG, commonly known as “cooking gas”) in two Member States of the CARICOM Single Market and Economy (CSME).
The preliminary assessment commenced in October 2021 through the Commission’s internal review of the relevant markets in Guyana and Barbados based on information received, which was followed in April 2022 by requests for national preliminary examination reports from the Member States’ national competition commissions. The national competition authorities submitted their respective reports of their national markets in September 2022 and April 2023. On this basis, the Commission has now concluded its preliminary assessment as required under Article 176 of the Revised Treaty of Chaguaramas (RTC).
The Commission finds there to be insufficient evidence of both (i) any likely price collusion at the import level in the respective Member States and (ii) cross-border effects. As such, a full regional investigation in the LPG markets of the relevant Member States may not be warranted at this time. In this instance, the relevant national competition authorities may take further action in accordance with their enabling national legislation and keep the LPG market under continued surveillance given the preliminary signs that price collusion could be a plausible concern.
To view the entire press release, click here.