United States v. Socony-Vacuum Oil Co.

United States v. Socony-Vacuum Oil Co. (1940) was a landmark antitrust case where the Supreme Court ruled that oil companies fixing prices and coordinating their actions to limit competition were engaging in illegal monopolistic practices. The Court emphasized that agreements to stabilize prices, even if they don't directly fix prices, can harm consumers by reducing fair competition. This case established that such conduct is illegal under antitrust laws, reinforcing the principle that businesses cannot collaborate to control markets, and helped define what constitutes illegal price-fixing and monopolistic behavior.