A California Senator is calling for a Federal Trade Commission investigation into the increasing gas prices.
Dianne Feinstein is concerned that the spiking prices are not related to simple supply and demand. In her letter to FTC Chairman Jon Leibowitz, she writes, “California consumers are all too familiar with energy price spikes which cannot be explained by market fundamentals, and which turn out years later to have been the result of malicious and manipulative trading activity. It is with this history in mind that I call on the FTC to act immediately and aggressively to protect California’s consumers.”
Feinstein also asked for a probe in August, when gas was 45 cents cheaper. Many have blamed unexpected shortages at refineries, and the changeover from summer to winter blend, as the reasons for the price spike.