Big Oil did not manipulate US gasoline prices -FTC

Newswire

By Tom Doggett WASHINGTON, Aug 30 (Reuters) - Big oil companies did not conspire to raise U.S. gasoline prices last summer, as it was high crude oil costs and supply problems that caused the spike in pump prices, government investigators said on Thursday. The Federal Trade Commission said that about 75 percent of the rise in gasoline prices was due to a seasonal increase in summer driving, higher oil costs and more expensive ethanol that was blended into gasoline. The other 25 percent ...

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