February 2022. Spain is still suffering the economic consequences of the coronavirus crisis. After two years with workers suffering ERTES, Russia invades Ukraine and a war breaks out that we continue to suffer four years later.
Immediately, the economy of the entire continent is reeling. Basic products skyrocket in price and, among them, fuel enters a runaway inflationary race. One that, in turn, once again raises the prices of basic products. February 3, 2022 we counted on Xataka that gasoline was more expensive than ever. We paid 1,538 euros per liter. 24% more than the previous year. In summer we were close to two euros per liter.
By then the Government had launched its action plan. After a transport strike and with France applying state aid to the purchase of gasoline, the State began to subsidize with 20 cents/liter the purchase of fuel for all drivers.
The measure only proved to be a plug through which water leaked. In summer the most pessimistic voices already pointed to a price of up to three euros per liter in gasoline. The pump price, fortunately, did not reach that point. In fact, that same summer another war began. This time at the service stations.
And although the price of gasoline continued to rise to the point that at the till We were paying 1.80 euros for each liter again, The big oil companies brought out all their weapons: points cards, temporary discounts, loyalty plans… Movements that hid something that the CNMC already warned about that same summer: the big oil companies were getting rich.
Now, it is the same CNMC that has made a decision: to fine Repsol 20.5 million euros.
Abuse of power against competitors
The CNMC has confirmed a sanction of 20.5 million euros to several Repsol Group companies and punishes them with disqualification from participating in public contracts for six months on the understanding that they abused their position of power to narrow profit margins with the intention of driving competitors out of the market.
Competition defends that the discounts applied during the year 2022, which at the time were applauded by the Governmentthey narrowed the profit margins in the sale of fuel to the point of preventing companies selling low-cost fuel from competing on equal terms. The CNMC alleges that “competition law requires that companies in dominance position are especially responsible for not restricting competition.
They assure that after various complaints they went to the Repsol Group service stations at the end of 2022 and that at the end of 2023 They initiated the disciplinary proceedings with the information collected. In the investigation. The behavior of Moeve, then Cepsa, and BP was also analyzed. However, only Repsol has been sanctioned.
From the company, they point out in Five Daysassure that they will appeal the fine while arguing that “it is the first time in the history of national and community competition law that the CNMC sanctions a company for applying discounts.”
Those days of 2022 were marked by the role of the oil companies. In April, when the State began to apply the discount of 20 cents per liter of fuel, low-cost operators They threatened to strike because they understood that the money they had to put out of their own pocket (of the 20 cents/liter, five were borne by the operator) destroyed their profit margins.
Later, the CNMC confirmed that the companies in charge of supplying fuel were obtaining a juicy profit with the increase in fuel prices, to the point that their profit margins had widened despite having to put money in to subsidize fuel, with record gross margins.
Now, the entity in charge of ensuring competition points out that Repsol also took the opportunity to try to sweep away the competition. It will have to be Repsol that manages to demonstrate that it did not act in this way and as the CNMC defends.
Photo | Repsol
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