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Mexico: State-owned oil monopoly hit with fine

 |  August 26, 2013

Mexico’s competition watchdog has fined the nation’s state-owned oil conglomerate about $50 million for monopolistic behavior say reports, following talk of action against the company for several weeks. The Federal Communication Commission found Petroelos Mexicanos, otherwise known as Pemex, of abusing its market position by requiring gas stations to allow union truck-delivered gasoline, gas that is found to be 50 percent more expensive than non-union gas. Pemex, a legally recognized monopoly, plans to appeal the fine.

Full Content: Gazette

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