Justice Department urges states to probe possible gas price gouging

The Justice Department on Friday called on states to “use all tools available” to investigate whether oil companies and individuals are intentionally inflating gas prices amid complaints from President Trump that they are falling too slowly.

Associate Attorney General Stanley Woodward Jr. and Federal Trade Commission (FTC) Chair Andrew Ferguson also informed state attorneys general in a July 3 letter that the agencies are “closely monitoring petroleum markets” for potential violations of federal antitrust laws.

“We urge state law enforcers to join us in investigating illegal practices,” they wrote. “Recent volatility in crude oil prices does not suspend either the antitrust laws or state consumer protection laws, and it does not authorize companies to manipulate retail prices or collude with their competitors.”

More than three dozen U.S. states, territories and the District of Columbia have specific laws that prohibit raising prices on essential goods or services to exorbitant levels during disasters or emergencies, according to the National Conference of State........

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