Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America’s largest oil producer.
The firms targeted by the probe are Petrobras Distribuidora SA (BRDT3.SA), a subsidiary of state oil company Petroleo Brasileiro SA (PETR4.SA); Ipiranga, a unit of Ultrapar Participações SA (UGPA3.SA); and Raízen, a Cosan SA (CSAN3.SA) and Royal Dutch Shell Plc (RDSa.AS) joint venture.
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