No L 140/4 Official Journal of the European Communities 28.5.76 (Acts-whdse publication is not obligatory) COUNCIL COUNCIL DIRECTIVE of 4 May 1976 regarding a Community procedure for information and consultation on the prices of crude oil and petroleum products in the Community (76/491/EEC) THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, and in particular Article 213 thereof, Having regard to the draft from the Commission, Having regard to the opinion of the European Parliament (1), Having regard to the opinion of the Economic and Social Committee (2), ‘Whereas the establishment of a common energy policy is one of the objectives which the Community has set itself, and it is the task of the Commission to propose measures for this purpose; Whereas knowledge of supply and market conditions is one of the basic elements of such a common energy policy; Whereas transparency of the costs and prices of petroleum products is a necessary condition for the satisfactory operation of the market, and particu- larly for the free movement of goods within the Community; Whereas the Council, in paragraph 3 (III) of its resolution of 13 February 1975 concerning measures (1) OJ No C 28, 9. 2. 1976, p. 9. (3 OJ No C 50, 4. 3. 1976, p. 2. to be implemented to achieve the Community energy policy objectives adopted by the Council on 17 December 1974 (3), approved the principle of a consumer price policy based on transparency of the costs and prices of hydrocarbons; Whereas it is therefore necessary to set up a Community procedure for information and consultation on the prices of crude oil and petroleum products; ' ’ Whereas the achievement of this objective requires the acquisition, at regular intervals, of certain information regarding the prices of crude oil and the principal petroleum products, at least in aggregate form at Member State level;. Whereas the information regarding the prices of crude oil and the principal petroleum products should be supplied by the oil undertakings, and the Member States should, by reference to objective criteria, designate the individuals and undertakings who will provide the Member States with such information; Whereas within one year at most of the first application of this Directive consideration should be given to the advisability of the Member States’ communicating to the Commission the information supplied to them by the undertakings; (3 OJ No C 153, 9. 12. 1975, p. 6.