South Korea's antitrust watchdog on Wednesday began deliberations on two local oil refiners after an examiners' report alleged the companies had unlawfully exchanged information and rigged prices. The Fair Trade Commission (FTC) said its examiners' report recommended imposing fines and issuing corrective orders against SK Energy Co. and HD Hyundai Oilbank Co. for exchanging information or colluding on the prices of gasoline, diesel and kerosene. The two companies exchanged information on their sales policies from just before the outbreak of the Russia-Ukraine war in February 2022 until March 2026, shortly after the outbreak of the U.S.-Iran war, the report said. The examiners alleged the two companies had rigged prices since the Middle East crisis. Relevant sales totaled an estimated 44.1 trillion won ($33.2 billion), or around 30 billion won per day. The report said the companies' practice of setting prices while exchanging information unfairly restricted competition, violating the Monopoly Regulation and Fair Trade Act. "We believe the two companies began sharing information amid energy