Sens. Demand Probe Into Price-Fixing By Oil Refiners

Law360, New York (May 17, 2011, 6:50 PM EDT) -- Four U.S. senators urged the Federal Trade Commission on Tuesday to investigate a potential scheme to fix gasoline prices, nearly a month after the U.S. attorney general assembled a task force to examine potential fraud and collusion in the energy markets.

Sens. Harry Reid, D-Nev., Chuck Schumer, D-N.Y., Patty Murray, D-Wash., and Claire McCaskill, D-Mo., said refiners could be cutting back on gasoline supplies to keep prices artificially high and inflate their bottom line.

"At a time when major refiners and oil companies are making record...
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