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Cofece Imposes Over 437 Million Peso Fine on Gas Stations for Price Manipulation

By  |  October 17, 2024

The Federal Economic Competition Commission (Cofece) has imposed fines totaling 437,911,146 pesos on 52 gas stations, the Mexican Association of Gas Businessmen (Amegas), and 18 executives for manipulating gasoline prices, harming consumers over a span of several years.

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    The illegal activities occurred between 2014 and 2021, during which the sanctioned parties conspired to fix prices of regular and premium gasoline. The investigation uncovered that:

    • Grupo Combustibles and Colón Gas Station: 15 gas stations and 2 executives, aided by Amegas, agreed not to lower gasoline prices between 2014 and 2017, resulting in fines of nearly 28 million pesos.
    • Grupo Megasur, Grupo Enerkom, Grupo Lodemo: 13 gas stations and 3 executives conspired to manipulate prices in Mérida, Yucatán, between March 2020 and June 2021, receiving fines of over 315 million pesos.
    • Various Groups in Irapuato, Guanajuato: 18 gas stations and 6 executives from groups including Grupo Casimiro, Grupo Express-Bajío, and others, were fined nearly 70 million pesos for their actions in 2018.
    • Gas Stations in Tuxtla Gutierrez, Chiapas: Nandalumi and Iván Hugo Combustibles, along with 2 executives, were fined more than 12 million pesos for price coordination throughout 2018.

    Cofece’s ruling highlights the commission’s ongoing efforts to protect consumers and maintain fair competition in the fuel market.

    Source: COFECE