Brussels - The European Commission on Wednesday slapped a 131-million-euro (173-million-dollar) fine on five companies that contributed to higher petrol costs by fixing the price of marine hoses used to transfer crude oil to and from ships.
The five companies - Bridgestone, Dunlop Oil & Marine/Continental, Trelleborg, Parker ITR and Manuli, were found guilty of operating a marine hoses cartel between 1986 and 2007.
"For 20 years, this cartel added to the prices consumers paid for their oil deliveries," said EU Competition Commissioner Neelie Kroes.