GAC fines 2 firms in industrial gas sector for price-fixing

Logo of The General Authority for Competition (GAC) 

The General Authority for Competition (GAC) imposed fines on two companies operating in the industrial gas sector for violating the Competition Law by engaging in price-fixing agreements. The total fines amount to SAR 361,340.

In a statement on the X, GAC emphasized its mandate to enforce the Competition Law and its commitment to protecting and promoting fair competition while combating monopolistic practices.

In line with the principle of procedural transparency, it clarified that initial indicators suggested potential violations by several companies in the sector suspected of price-fixing, which is prohibited under Article 5, Paragraph 1 of the Competition Law.

Following the collection of evidence, the conduct of thorough investigations, and the gathering of necessary information and inquiries, the case was referred to the Committee for Adjudication of Competition Law Violations.

Consequently, the committee decided to impose fines of SAR 333,340 on Abdullah Abdulaziz Aldakheel Industrial Gases Factory and SAR 28,000 on Universe Clouds Factory for Gases.

The decision is final due to the expiration of the appeal period as specified in Paragraph 3 of Article 18 of the Competition Law.

The authority urged all establishments to comply with the Competition Law and its executive regulations and to adhere to fair competition practices that encourage consumer choice and support market growth and efficiency within a framework of fairness and transparency.

GAC also called on all establishments to review the guidelines on how to comply with the Competition Law through the Emtithal (Compliance) portal.