A PYMNTS Company

Peru: Customers request compensation following VNG collusion ring

By  |  February 26, 2019
Peru: Customers request compensation following VNG collusion ring

The Unitary Command of Workers of Terrestrial Transport of Peru and the Association of Indignant Consumers announced that they will request compensation over the effects of a price-fixing ring in the vehicular natural gas (VNG) supply sector among several companies. According to markets and consumer protection agency INDECOPI, it has already set fines for more than S/458 million (US$138 million) on 64 companies for forming a cartel, as well as S/1.7 million (approximately US$513,000) to 29 executives involved in the case.

    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.

    “There has only been one case in history, in Chile, in which the companies that had agreed on the price of toilet paper came back after a long time and, after hard work identifying who would be the beneficiaries” said the agency referring to the recent case known as “Caso Tissue”, which affected the toilet paper market in several South American countries.

    Elmer Mercado, coordinator of the Unitary Command of Workers of Terrestrial Transport of Peru, indicated that 90% of the 252,000 taxi drivers in Lima make use of VNG, so there would be a large number of people affected.

    Full Content: Gestión

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