Former head of the Monopol Commission, Achim Wambach, urged the German federal government and the Federal Cartel Office to carefully monitor fuel price developments and to prepare for possible market interventions.
He told the “Rheinische Post” (Friday issue): “When world market prices rise, the prices at petrol stations rise as well”. He added that this is at first more a sign of a functioning market than of market distortions. Wambach cautioned that the Cartel Office should scrutinise price movements closely, especially if dominant suppliers could use the situation to push prices excessively. “The Monopol Commission has no role here because it cannot impose penalties” he noted.
Wambach further said the government must keep a close eye on world market developments. Oil and gas are essential for the German economy, and while it’s too early for concrete measures, a sustained price shock could make interventions necessary. “Those measures should already be prepared for” he demanded.
