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Pertamina one of five fuel retailers in Indonesia under scrutiny for alleged price-fixing

( May 15, 2020, 08:10 GMT | Official Statement) -- MLex Summary: Indonesian state-owned oil and gas company Pertamina and four other private-fuel retailers are under antitrust scrutiny in Indonesia, after the Business Competition Supervisory Commission, or KPPU, found evidence to back up price fixing allegations. In a statement, the commission said the prices of non-subsidized petrol in the country have remained relatively stagnant since March 2020, in contrast to the 38 percent decline in prices in neighboring countries like Vietnam and Malaysia since February due to the Covid-19 pandemic. KPPU also said the probe will look into whether this was a case of price leadership, as Pertamina controls over 98 percent of the oligopolistic fuel retail market. The four other major retailers are Shell, Total, BP and Vivo Energy. ...

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