The Federal Trade Commission has said it will crack down on practices that may harm consumers at the gasoline pump and seek to deter “unlawful” mergers in the oil and gas industry after the White House asked it to look into why gasoline prices tend to rise more in response to oil price spikes than they drop in response to oil price drops.
Current prices reflect more people traveling and commuting to the office, after the COVID pandemic caused a sharp drop in consumption last year.Article content In August, Biden’s administration pressed OPEC and its allies to boost oil output to tackle rising gasoline prices.futures slipped on Thursday, pressured by a larger-than-expected storage build last week and forecasts for slightly lower demand through next week.
Reuters poll, lower than the increase of 86 bcf in the same week last year and above a five-year average increase of 79 bcf.
Source: News Formal (newsformal.com)
Probing? So basically doing nothing because the answer is as it always is , speculation and greed, period!!!!
1. Because Oil Prices remain high. 2. The United States Administration EIA states that US Oil reserves have only 10 Years left in Oil reserves in the ground, so to curb consumption the price should remain high. There should also be a Federal Gasoline Tax to pay for infrastructure
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