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New York Markets After Hours

Nov. 17, 2021, 10:31 a.m. EST

Biden again asks FTC to look into whether illegal practices are contributing to rising gasoline prices

President Joe Biden on Wednesday asked Federal Trade Commission Chair Lina Khan in a letter to immediately "consider whether illegal conduct is costing families at the pump," as he said there's "mounting evidence of anti-consumer behavior by oil and gas companies." Biden wrote that "prices at the pump have continued to rise, even as refined fuel costs go down and industry profits go up." Wednesday's letter comes after the White House raised similar concerns in August and directed the FTC at that time to look into whether illegal practices were contributing to a rise in gasoline prices (NYM:RB00) .

Link to MarketWatch's Slice.