FTC Statement on Amendment to Global Partners, Gulf Oil Acquisition

Summary:

The Federal Trade Commission (FTC) has taken action to prevent anticompetitive practices in the petroleum products supply chain. Global Partners LP has abandoned its proposed acquisition of Gulf Oil's petroleum terminal in South Portland, Maine, following FTC concerns. The acquisition threatened to limit competition and increase prices, affecting consumers who use heating oil and diesel fuel in the area. The FTC has commended Global Partners for abandoning the anticompetitive acquisition and thanked FTC staff and the Maine Attorney General's Office for their work on the matter.