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With Gas Prices Soaring, Biden Calls For Probe Into Possible ‘Illegal Conduct’

17 November 2021. ABC News: President Joe Biden on Wednesday called on the Federal Trade Commission to investigate if “illegal conduct” is to blame for surging gas prices hurting Americans’ pocketbooks.

Fuel prices are averaging above $3.40 a gallon, according to the American Automotive Association, which forecasts more than 48 million Americans are likely to hit the road next week to drive to Thanksgiving celebrations.

“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,” Biden wrote in a letter to FTC Chair Lina Khan.

High gas prices can pose a big political problem for the president as a new ABC News/Washington Post poll shows 70% of those surveyed rate the economy negatively, including 38 percent who say it is in “poor” condition. About half of Americans overall and political independents blame Biden for fast-rising inflation.

The administration had previously asked the commission to monitor the gasoline market for any illegal conduct earlier this year, leading to the FTC increasing their oversight on mergers of oil companies that result in fewer options for consumers.

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