Biden again asks FTC to look into whether illegal practices are contributing to rising gasoline prices

Published Nov 17 2021 at 3:31 PM GMT
  • President Joe Biden on Wednesday asked Federal Trade Commission Chair Lina Khan in a letter to immediately "consider whether illegal conduct is costing families at the pump," as he said there's "mounting evidence of anti-consumer behavior by oil and gas companies.
  • Biden wrote that "prices at the pump have continued to rise, even as refined fuel costs go down and industry profits go up.
  • Wednesday's letter comes after the White House raised similar concerns in August and directed the FTC at that time to look into whether illegal practices were contributing to a rise in gasoline prices .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
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  • Published Nov 17, 2021 3:31 PM GMT