Illegal or not, looks like Cali residents will be left holding the biggest bag

[theking]

Is 'illegal conduct' the reason for rising gas prices? Biden urges regulators to find out

Gasoline prices above $5 per gallon in California

WASHINGTON – President Joe Biden on Wednesday called for federal regulators to investigate whether oil and gas companies are engaging in "illegal conduct" by profiting from high gas prices that have skyrocketed during the pandemic.

Biden, facing increasing pressure politically as inflation has soared to a 31-year high, requested the probe in a letter to Federal Trade Commission chair Lina Khan, claiming "mounting evidence of anti-consumer behavior by oil and gas companies."

"The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies' costs are declining," Biden said in the letter. "The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately."