Democrats seek probe on refiners' alleged price fixing

05/19/2011 | Politico (Washington, D.C.)

The Federal Trade Commission should launch an investigation into "potential price fixing" of refiners, Senate Democrats said in a letter to FTC Chairman Jon Leibowitz. Refiners could be "cutting back on U.S. gasoline stockpiles in order to artificially keep prices high and inflate their bottom line," they wrote. The Democrats' request is "kind of like the 'Casablanca' moment; you know, round up the usual suspects," said John Felmy, the American Petroleum Institute's chief economist.

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