Brazil Fines Gas Stations $5M Over Fuel Cartel

Law360, New York (October 24, 2013, 7:27 PM EDT) -- Brazil's antitrust watchdog fined 12 gas stations and eight individuals 11 million reais ($5 million) Wednesday for operating a cartel for fuel sales in one of the biggest cities of the country's southern region, marking the latest crackdown on price-fixing in the industry.

The Administrative Council for Economic Defense, known as CADE, decided to fine the gas stations 9.3 million reais and the individuals 1.7 million reais for fixing the price of fuel sold in the metropolitan area of Londrina, a major city in southern Brazil....
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