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Senator Feinstein Seeks Probe Of Gas Prices

Asks Federal Trade Commission to investigate sudden spike.

 

Senator Dianne Feinstein wants the Federal Trade Commission to investigate whether "malicious trading schemes" have caused gas prices to spike in California, saying "publically available data appears to confirm" that there is not a gas shortage, according to a report by the Associated Press.

Feinstein's plea to the FTC comes on the heels of a directive by Gov. Jerry Brown ordering the California Air Resources Board to ease up on its production rules to increase the gas supply.

Brown cited "unacceptable price impacts for consumers and small businesses." 

The AP said the price of gas, which now averages $4.67 per gallon in the state, ranges from a high of $6.65 in Long Beach to a low of $3.49 in San Pablo.

What do you think? Is this just the market at work? Are California regulations to blame? Is profiteering in play? Or do all of the above factor in? And should the FTC investigate? How are you coping?

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Steve Hula October 11, 2012 at 08:37 PM
When Wall Street Investors can buy (for example) a gallon of gas for $1.00 a gallon, you better believe they will drive the selling price up as high as they can, in Southern Calif that appears to be about $5.00 a gallon...

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