Peru: Authorities wish to reveal names of companies guilty of price-fixing in LP Gas market
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.”
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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI