Biden, under fire for inflation, calls on FTC to probe oil firms for high gas prices
Gasoline prices are displayed at a Marathon station, Wednesday, Nov. 17, 2021, in Miami Beach, Fla. (AP Photo/Marta Lavandier) more >
By Dave Boyer - The Washington Times - Wednesday, November 17, 2021
President Biden on Wednesday asked the head of the Federal Trade Commission to investigate whether oil companies are illegally increasing prices at the pump, as he scrambles to assuage voters’ anger over soaring consumer prices.
“The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately,” Mr. Biden wrote in a letter to FTC Chairwoman Lina Khan.
The price of unleaded gasoline has increased 51.3% in the past 12 months, while inflation has hit a 31-year high. Price increases and shortages on a wide variety of consumer goods have contributed to Mr. Biden‘s plummeting approval ratings in polls.
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