German fuel database set up to encourage Competition
by FFE EU News staff
Germany’s Federal Cartel Office (FCO) will soon set up a price database that will help customers compare petrol and diesel prices in real time, a cartel watchdog revealed on Thursday.
Over 14,000 petrol stations will transmit their petrol and diesel prices electronically, where they will be listed in a database. Companies like motoring association Allgemeiner Deutscher Automobil-Club will then have access to the database.
The public will also view the prices through websites and mobile applications.
13,000 stations will initially take part in the new system. Reuters reported that this number will be increased to 14,500 by December 1st if the system becomes a success.
For FCO, the database will make it easy for them to monitor the fuel prices of the five biggest companies who have control over the market. Allowing the public to have access to cheap fuel will encourage more competition.
However, Green Party MP Bärbel Höhn pointed out that the companies would have already profitted before a sale is made at the petrol stations.