FTC To Probe 'Exorbitant' U.S. Fuel Prices

Law360, New York (May 15, 2008, 12:00 AM EDT) -- The U.S. Federal Trade Commission has agreed to launch an inquiry into whether anti-competitive conduct has contributed to the record-high fuel prices facing American consumers.

At a budget hearing on Wednesday before the Senate Appropriations financial services and general government subcommittee, FTC Chairman William E. Kovacic said his agency has had a program in place for three or four years to monitor price changes concerning gasoline and diesel.

“We have been examining anomalies as they arise in the pricing and distribution of these products,” Kovacic said....
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