Mexico watchdog investigating LPG market
Mexico Cofece opened the inquiry following a complaint filed last year by Mexico’s Energy Regulatory Commission, which oversees the domestic refined oil products, natural gas, LPG and electricity markets. According to the competition watchdog, it is specifically investigating “the possible realisation of agreements between competitors to manipulate prices, restrict or limit supply or demand, or divide or segment the market.”
Case DE-022-2017 can initially be investigated for 120 days, with the possibility of being extended up to four times for periods of 30-120 days.
The punishment for “absolute monopolistic practice” is a fine of up to 10% of the offender’s income, and individuals involved may be imprisoned for as many as 10 years.
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