– EUROPA PRESS – Archivo
SANTA CRUZ DE TENERIFE, 16 Jun. (EUROPA PRESS) –
The Vice-President of the Government of the Canary Islands, Manuel Domínguez, announced on Tuesday that the government will carry out an inspection campaign of 78 service stations across the islands to assess dysfunctions in the fuel market.
During a press briefing regarding reports commissioned by the Directorate General of Trade and Consumption, he indicated that the analysis reveals a “structural asymmetry” in the transfer of international prices to the forecourt.
When the price of oil rises, the increase is quickly passed on to consumers within 48 to 72 hours. However, when crude prices fall, the reduction takes significantly longer, with delays of 10 to 13 days to reflect only part of the decrease.
This discrepancy, known as the “rocket effect” and the “feather effect,” directly harms families, self-employed individuals, and the overall economic activity in the Canary Islands, he pointed out.
Manuel Domínguez also assured that the government’s action stems from “a clear concern about the impact of this situation on citizens.”
“We were surprised that fuel prices increased almost immediately in the archipelago, and therefore we wanted to rigorously analyse what has occurred and whether we are witnessing a normal market behaviour or an anomalous situation,” he stated.
The report also concludes that there is a high concentration in the market, with four brands controlling 76.7% of the network of service stations in the archipelago, while the presence of independent operators is significantly reduced.
In light of this situation, the Vice-President believes it is essential to act “with transparency and with inspection tools that allow for a detailed understanding of the price formation structure of the operators involved in the sample.”
DOCUMENTATION REQUEST
In this regard, the campaign will focus on a formal documentation request from the selected operators. The aim is to obtain precise information about their pricing policy during the analysed period and to determine whether the observed differences are due to simple market inertia or factors necessitating new actions.
The inspection campaign will be carried out, through delegation, by the inspection service of the Directorate General of Trade and Consumption.
The results will be submitted to the Competition Defence Service, which is dependent on the Vice-Ministry of Economy. Following the analysis of the provided data, appropriate action will be taken, whether to archive the proceedings or, if applicable, to initiate sanction proceedings, which, once processed, will be elevated to the Canary Islands Competition Defence Council or, if necessary, to the National Competition Defence Commission for resolution.
Domínguez added that “if this study indicates that there has been irregular conduct or abuse, the Government will act accordingly,” as the Government will not “overlook a situation that harms Canary consumers.”
He also emphasised that “this measure responds to a clear priority: to defend the general interest in an area that directly affects the cost of living, mobility, and the competitiveness of Canary companies.”
