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Spain: Tough sanctions on Repsol

 |  July 14, 2015

Spain’s CNMC has levied fines totalling 22.8 million euros on Spanish Repsol SA and its network of affiliates. The company is accused of violating local competition laws, as well as the wider European Union treaty in a fuel price-fixing case.

A file has been opened on Repsol and their associates, including the Compañía Española de Petróleos SAU, BP España SA (British Petroleum), Lence Torres SL and Complejo San Cristóbal SL, along with Cerro de la Cabaña and the Lorqui LS and Macar SA service stations. The companies are accused of coordinating their prices, each within their own fuel distribution networks.

An April 2013 agreement between Repsol SA and the Lence Torres and Complejo San Cristobal companies to coordinate their sales prices in order to gradually raise consumer prices is considered the lynchpin of the case.

Source: ICN Diario

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