Biden asks FTC to ‘immediately’ look into whether illegal conduct is pushing up gas prices

In a letter to the FTC commissioner, Biden cites “mounting evidence of anti-consumer conduct by oil and gasoline organizations.”

“The base line is this: gasoline charges at the pump stay superior, even though oil and gas companies’ expenditures are declining,” he wrote.

He cited a “unexplained substantial gap” in between the selling price of unfinished gasoline and regular rates at the pump as evidence of potential wrongdoing.

“I do not take hard-working Us citizens paying extra for gasoline simply because of anti-aggressive or usually most likely illegal conduct. I as a result inquire that the Fee further more analyze what is happening with oil and fuel markets, and that you convey all of the Commission’s resources to bear if you uncover any wrongdoing,” he wrote.

This tale is breaking and will be updated.