– EUROPA PRESS – Archivo
SANTA CRUZ DE TENERIFE, 16 June. (EUROPA PRESS) –
The Vice President of the Canary Islands Government, Manuel Domínguez, announced on Tuesday that the government will launch an inspection campaign targeting 78 service stations across the islands to assess dysfunctions in the fuel market.
During a press conference to discuss reports commissioned by the Directorate General of Commerce and Consumption of the Canary Islands Government, he stated that the analysis reveals a “structural asymmetry” in the transfer of international prices to consumers at the pump.
Specifically, when oil prices rise, the increase is quickly passed on to consumers within just 48 to 72 hours. However, when prices fall, the reduction takes much longer to materialise, with delays of between 10 and 13 days to reflect even a portion of the decrease.
This discrepancy, known as the “rocket effect and feather effect”, directly harms families, freelancers, and the entire economic activity in the Canary Islands, he pointed out.
Manuel Domínguez also assured that the government’s actions stem from “a clear concern for the impact of this situation on the public”.
“We were surprised that fuel prices increased almost immediately in the archipelago, and thus we wanted to rigorously analyse what has happened and whether we are facing a normal market behaviour or an abnormal situation,” he said.
The report also indicates a high concentration in the market, where four brands control 76.7% of the network of service stations in the archipelago, while the presence of independent operators is significantly limited.
In light of this scenario, the Vice President considers it necessary to act “with transparency and with inspection tools that allow for a detailed understanding of the price formation structure of the operators in the examined sample”.
DOCUMENTATION REQUEST
In this context, the campaign will focus on a formal request for documentation from the selected operators, aiming to gather precise information about their pricing policy during the analysed period and determine whether the observed differences are due to mere market inertia or factors requiring further action.
The inspection campaign will be conducted, through assignment, by the inspection service of the Directorate General of Commerce and Consumption.
The findings will be sent to the Competition Defence Service, under the Deputy Ministry of Economy, which will analyse the provided data and determine the appropriate course of action, possibly archiving the proceedings or, if necessary, initiating a sanctioning process. Once instructed, this will be elevated to the Canary Islands Competition Defence Council or, if applicable, to the National Competition Defence Commission for resolution.
Domínguez added that, “if this study reveals any irregular behaviour or abuse, the Government will take appropriate action”, as they will not “overlook a situation that harms Canary Islands consumers”.
He also reiterated that “this measure represents a clear priority: to defend the general interest in an area that directly affects the cost of living, mobility, and the competitiveness of Canary Islands companies”.
