The Competition and Fair Trading Commission (CFTC) has intensified market surveillance following the 41 percent increase in fuel prices, warning traders against unjustified price hikes.
CFTC spokesperson Innocent Helema stated that the Commission is closely monitoring the price movements of basic goods and services across the market.
“We are issuing a stern warning to traders against using the fuel increase as a pretext to unreasonably raise prices,” Helema said.
He stressed that excessive or exploitative pricing is illegal under the Competition and Fair Trading Act.
“Section 51(q) of the Act clearly prohibits such conduct, and the Commission will not hesitate to enforce the law,” Helema said.
The CFTC said it is relying on proactive market monitoring alongside intelligence provided by consumers to detect possible abuses.
Consumers have been urged to report suspected overpricing promptly, with receipts and price comparisons helping the Commission take action.
