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Justice Department urges states to target illegal activity amid high gas prices
Fox Business • • business
Key Points:
- The federal government, through the DOJ and FTC, is urging state attorneys general to investigate and prosecute illegal activities that may be causing high gasoline prices despite falling crude oil costs.
- The letter emphasizes that antitrust and consumer protection laws remain in effect during price volatility and warns against price manipulation or collusion by petroleum companies.
- President Donald Trump has publicly accused oil companies of price gouging, demanding immediate reductions in gas prices to reflect the lower cost of crude oil.
- Gas prices have recently declined from a peak earlier this year, with the national average for regular gas dropping from $4.26 to $3.82 per gallon as of early July.
- The DOJ’s Antitrust Division is committed to collaborating with state law enforcement to protect consumers and hold companies accountable for unlawful market manipulation.
