MEXICO CITY (AP) — Mexico’s anti-monopoly commission says it is looking into possible price-fixing or monopolistic practices in the market for medical oxygen, after pharmacies reported a spike in prices and difficulties in getting tanks and refills.
Prices for oxygen tanks have reportedly tripled since the pandemic hit Mexico in March. An official at a Mexican pharmacy association said Thursday that “what little we could hold of went by 200%” in price. But he questions whether anything illicit was involved, saying demand for oxygen shot up.
The Federal Economic Competition Commission says that if any violations are found, companies that engage in unfair practices could face fines of up to 8% of annual revenues.