OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Rogers to FTC: Investigate Oil Companies for Price Manipulation

Date: May 12, 2004
Location: Washington, DC
Issues: Oil and Gas Trade


Rogers to FTC: Investigate Oil Companies for Price Manipulation

"Like the vast majority of my constituents, I continue to be concerned about record profits reported by petroleum companies at a time when consumers are paying record high prices for gasoline," Rogers said in the letter. "Current federal law allows the Federal Trade Commission (FTC) to penalize companies that engage in price manipulation, and through fines and other penalties, can force petroleum companies to lower their prices to provide American consumers immediate relief.

"Last year at this time, the average price for a gallon of regular grade gasoline in Alabama was $1.39," Rogers added, noting that recent reports show Alabama gasoline prices have reached an all time high of $1.81 per gallon.

"Should your investigation discover any manipulation of the oil market in Alabama, I strongly urge you to use all the powers of your office to halt these practices immediately," Rogers added in the letter. "I also ask that you advise my office on any and all Congressional action that could help bring further relief."

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