McCaskill calls for oil price investigation

Wednesday, May 18, 2011

JEFFERSON CITY, Mo. -- You're not the only one upset about the price of gasoline. Democratic Sen. Claire McCaskill says U.S. oil refinery companies are cutting back to keep prices artificially high.

McCaskill is one of four senators who have signed a letter addressed to the Federal Trade Commission's Jon Leibowitz calling for an investigation into any wrongdoing, as well as the impact the action may be having on gas prices. In the letter, McCaskill says she is concerned that while gasoline use continues to decline, U.S. inventories remain below average and refining margins continue to rise.

"At a time when major refiners and oil companies are making record profits and American families continue to struggle with gasoline at record prices, the idea that refiners may be manipulating the market to keep prices artificially high is offensive," wrote McCaskill. "It is incumbent upon the Commission to ensure that the American people are protected from this type of manipulation."

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