Energy

Biden calls on FTC to probe anti-consumer behavior by energy companies as gas prices soar

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US President Joe Biden speaks during an event to commemorate Veterans Day at The Tomb of the Unknown Soldier at Arlington National Cemetary in Arlington, Virginia on November 11, 2021.

Nicholas Kamm | AFP | Getty Images

President Joe Biden is asking the Federal Trade Commission to look into behavior from energy companies as prices at the pump hover around a seven-year high.

In a letter to Chair Lina Khan Wednesday, Biden said there’s “mounting evidence of anti-consumer behavior by oil and gas companies.” The letter noted that prices at the pump have remained high despite a decline in the price of unfinished gasoline. “This unexplained large gap between the price of unfinished gasoline and…



Source cnbc.com

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