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

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