The Australian Consumer and Competition Commission (ACCC) has announced preliminary concerns about Woolworths
(ASX:WOW) proposed purchase of BP Australia as it could impact consumers petrol prices.
The ACCC says the proposed acquisition could substantially lessen competition for consumer fuel supply in metropolitan areas.
The body says Woolworths already influences retail fuel market prices by either leading with price reductions or quickly following other retailers by reducing their prices.
It also raised another concern about the purchase effecting convenience groceries.
Woolworths says it will work with BP and the competition regulator to progress the clearance.
Shares in Woolworths
(ASX:WOW) are trading 0.56 per cent lower to $26.82.
