With the proposal to divert excess profits from energy companies, the Austrian chancellor caused turbulent stock prices. Now the German Economy Minister Robert Habeck (Greens) made a similar suggestion. In response to the fuel discount controversy, he now wants to tighten up the antitrust law – so that the state could siphon profits even without evidence of market abuse.
The amendment to the antitrust law should create an opportunity to unbundle the market for mineral oil and gas stations, among other things, Habeck suggested in the “Spiegel”. In a next step, the Bundeskartellamt should be able to skim the profits faster. Theoretically, according to the report, this was already possible, but with high barriers.
Habeck: “Not in the mind of the inventor”
“A right that cannot be used is not in the best interest of the inventor,” the “Spiegel” quoted Habeck as saying. “Consumers who have to pay higher prices bear the consequences,” he said, explaining the cartel agency’s extensive scope of action, the report said. The skimmed amounts would go to the state treasury.
Have companies used fuel discounts?
The background is the debate about the tax deduction on diesel and petrol. This should provide relief at the pumps, but critics accuse the mineral oil companies of not sufficiently passing on the so-called tank discount to the consumer. “The first datasets from the Federal Cartel Office on the fuel discount show that the difference between crude oil prices and gas stations has widened sharply since the beginning of the month,” Habeck said.
“Obviously what many experts warned about has happened: the mineral oil companies are reaping the profits and consumers are not noticing the tax cut.”
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
