July 31, 2018 / 11:49 AM / 3 months ago

Brazil fuel distribution firms targets in price-fixing probe

RIO DE JANEIRO, July 31 (Reuters) - Brazilian fuel distribution companies Petrobras Distribuidora SA, Ipiranga and Raízen have become targets in an investigation into price fixing, Paraná state police said in a statement on Tuesday.

The police are serving eight arrest warrants and 12 search and seizure warrants in connection with the probe. The fuel distribution companies are suspected of criminally fixing fuel prices at the pump and hence harming competition in the market, police said.

Petrobras Distribuidora, Ipiranga, which belongs to Ultrapar Participações, and Raízen, a joint venture of Cosan SA Indústria e Comércio and Royal Dutch Shell Plc, did not have an immediate comment. (Reporting by Pedro Fonseca Writing by Ana Mano)

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