Biden asks FTC to look into high gas prices

President Joe Biden has called connected the Federal Trade Commission to look into whether lipid and state companies are engaging successful "illegal conduct" successful mounting precocious state prices, according to USA Today and Reuters.

The outlets study that Biden sent a missive to FTC Chair Lina Khan Wednesday and directed the bureau to look into whether lipid companies were taking portion successful anti-competitive behavior.

"The bottommost enactment is this: gasoline prices astatine the pump stay high, adjacent though lipid and state companies' costs are declining," Biden wrote successful the letter, according to USA Today. "The Federal Trade Commission has authorization to see whether amerciable behaviour is costing families astatine the pump. I judge you should bash truthful immediately."

"I bash not judge hard-working Americans paying much for state due to the fact that of anti-competitive oregon different perchance amerciable conduct," the missive continued, according to Reuters. "I truthful inquire that the Commission further analyse what is happening with lipid and state markets, and that you bring each of the Commission's tools to carnivore if you uncover immoderate wrongdoing."

According to AAA, state prices person been rising steadily successful the past year. The existent nationalist mean terms for a gallon of state is $3.41, up from an mean of $2.12 a twelvemonth ago.