LONDON (Reuters) - Britain's competition watchdog on Thursday launched an investigation into Ticketmaster over the sale of Oasis tickets, including the use of "dynamic pricing" to hike the cost to fans at the last minute.

Thousands of fans waited long hours in virtual queues last weekend to get their hands on tickets for the British band's reunion shows next summer, only to find that prices had jumped in a "dynamic pricing" scheme.

Many thought they would pay the advertised rate of 148.50 pounds ($195.10) but ended up paying more than double at 355.20 pounds.

The Competition and Markets Authority said it was scrutinising whether the sale of Oasis tickets by Ticketmaster, the official ticketing partner for the concert, may have breached consumer protection law.

It said it would examine if Ticketmaster had engaged in "unfair commercial practices," if fans were given "clear and timely" information to explain tickets could be subject to "dynamic pricing" and if people were put under pressure to buy tickets within a short period of time.

The CMA said it should not be assumed that Ticketmaster had broken consumer protection laws.

As part of the probe, fans were being asked to submit evidence of their experiences.

Ticketmaster did not immediately respond to a request for comment on the investigation.

In a statement issued to PA Media, and cited by the BBC, Oasis said decisions on ticketing and pricing

Oasis "at no time had any awareness that dynamic pricing was going to be used" in the sale of tickets for the initial dates, the band said.

Britain's government earlier this week said it would investigate how concert ticket prices were hiked during high-demand periods. A spokesperson for Prime Minister Keir Starmer said the government welcomed CMA's review and awaits its conclusions.

According to the CMA, "dynamic pricing" has become increasingly prevalent across a number of different markets.

"This is not the first time it has raised concerns among fans of live sporting and music events," it added.

Oasis initially announced 14 shows, with the first due to take place in Cardiff in July 2025, followed by nights in Manchester - where the band was formed in 1991 - London, Edinburgh and Dublin.

Oasis added three UK dates last week with extra concerts in Manchester, London and Edinburgh. It added on Wednesday two more concert dates in London due to "phenomenal demand."