Senator Wants Chevron Deal Reviewed

Law360, New York (November 1, 2006, 12:00 AM EST) -- U.S. Senator Barbara Boxer has asked the Federal Trade Commission to thoroughly review Chevron Corp.’s recent purchase of 122 California gas stations from USA Petroleum Corp.

In a letter sent Tuesday to FTC Chairwoman Deborah Platt Majoras, Boxer wrote that the sale could potentially lead to higher prices at the pump.

“Large branded refiners have a significant effect on retail gas prices in California by virtue of their dominant position in the market,” Boxer wrote.

According to the letter, Chevron and six other large refiners supply...
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