A PYMNTS Company

Peru: INDECOPI punishes 24 companies in fuel cartel crackdown

By  |  October 8, 2018

The Commission for the Defense of Free Competition (CLC) of Peru has imposed fines on 24 companies dedicated to the sale of fuel, all members of a price-fixing cartel. The combined fines for all companies amounts to 11.9 million soles (approximately US$3.6 million). In addition, 8 officials and representatives of the companies were sanctioned for a total of 307,833 Soles (US $ 92,659.27).

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The CLC, part of INDECOPI, indicated that the cartel operated between May 2012 and October 2014, secretly handled by officials and employees at service stations that were members of the Association of Ancash Costa Service Stations, who determined the price that would be charged per liter of fuel, imposing surcharges of up to 7% for consumers.

    In addition to the fines, the CLC ordered a corrective program to comply with the regulations, under which the infringing companies must operate for 3 years. Each company must also inform the Technical Secretariat of the competition unit of any meetings held by the Áncash Costa Association.

    Full Content: El Comercio

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.