Book Description

On April 25, 2006, Pres. Bush directed ¿the Dept. of Justice to work with the Fed. Trade Comm. (FTC) & the Energy Dept.(DoE) to conduct inquiries into illegal manipulation or cheating related to current gasoline prices.¿ The FTC was, at that time, investigating the increases in gasoline prices that occurred following Hurricane Katrina, including an intensive examination of whether refiners & other market participants had manipulated, or tried to manipulate, gasoline prices. The FTC found no evidence of manipulation & only limited instances of price gouging by gasoline wholesalers & retailers. The FTC & DoE conducted this economic analysis & investigation of the nat. avg. gasoline price increases that began during the spring of 2006 & continued through the summer. Illus.