On Wednesday, President Joe Biden called upon the Federal Trade Commission to investigate the possibility of “anti-consumer behavior” and “illegal conduct” and gas and oil markets, as Americans are forced to pay more at the gas pump.
The letter sent to Chair Lina Khan comes as fuel prices have soared to an average of $3.40 per gallon, and more than 48 million Americans prepare to travel for Thanksgiving gatherings, according to the American Automobile Association.
In the letter, Biden writes: “I am writing to call your attention to mounting evidence of anti-consumer behavior by oil and gas companies. The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining. The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.”
