Peru: INDECOPI charges 66 gas companies for price-fixing

Peruvian competition agency INDECOPI has announced it will move against 66 companies selling natural gas for vehicular use. The companies, all of which operate in the region in and around the capital of Lima, have been accused of striking agreements to manipulate the prices of this fuel between 2011 and 2015.

The case is “based on the existence of reasonable evidence regarding the establishment of possible uncompetitive practices” said INDECOPI’s announcement. The regulator has argued that the companies had found a mechanism to manipulate prices and the use of promotions on the fuel. This included agreements to prohibit and cut short several deals and promotions offered to consumers

Should INDECOPI’s case be successful, the agency has warned of severe consequences for the sector, as the Lima y Callao region where the alleged price-fixing took place, represents up to 97% of the country’s total vehicle-grade natural gas consumption.
Full Content: La Mula

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