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Peru: Authorities wish to reveal names of companies guilty of price-fixing in LP Gas market

By  |  August 11, 2015

Peru’s consumer protection authority, OPECU, has called on the Energy and Mining Investment Supervisory Organism (OSINERGMIN) to release the names of over 40 gas-bottling companies known to have violated LPG sales regulations, thus causing a significant spike in prices last April and May. OPECU believes this will help “bring back consumer’s trust in the authorities.”

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    The group of companies, under investigation by competition agency INDECOPI and facing probable sanctions, comprises 63% of the local market.

    In related comments, Congressman Yonhy Lescano revealed parto of a study conducted by his office, which claims the price-fixing scheme may have affected users, charging them an excess of over 286 million Soles (89 million USD) over the period between 2005-2011. If so, remarked OPECU, this could make this the largest case of price-fixing in the country’s history.

    Source: Gestión

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