2023-04-19 05:15:00
Evaluating the field of competition as a whole – in which industries in Latvia do you think the competition is extremely high and extremely low?
Such an all-encompassing question. More or less competition exists in all fields and it is quite dynamic. Of course, there is also a tendency for competition to increase in some areas and decrease in others. Of course, the ideal option for consumers is full competition, but achieving such a situation would probably be quite difficult.
Looking at sectors that are closer to the population, consumers, and in some sense more important, for example, we can mention retail trade, where new players are entering – two new retail networks, which with this entry, to some extent, shake this sector. Likewise, local entrepreneurs continue to develop. Similarly, we see that the gas station network is expanding in terms of the number of market participants, in which one new player entered last year, and other previously small fuel retailers are also expanding their networks, thus creating fiercer competition in the field as a whole.
At the same time, suspicions have been raised for years about the suspiciously close similarity of fuel prices at filling stations of different traders. Of course, the situation has been resolved and no regulatory violations have been detected. What is it really like – are these very close prices the result of fierce competition and careful monitoring of competitors’ price policies? And not for conversation?
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