The cost of gasoline is up nearly 50% from a year ago, the latest Consumer Price Index showed.
As gas prices soar across the United States, President Joe Biden called on the Federal Trade Commission to look into whether illegal conduct is driving up the cost of gas prices for families. Americans have, from prices at the pump to. In a Wednesday letter addressed to Lina Khan, chair of the FTC, Mr. Biden called her attention to „mounting evidence of anti-consumer behavior by oil and gas companies.“ „The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies‘ costs are declining,“ Mr. Biden wrote. „The Federal Trade Commission has the authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.“ The cost of gasoline is up nearly 50% from a year ago, the latest Consumer Price Index showed, as inflation had its. The average price for a gallon of gas is $3.41, according to AAA, which noted this was. The average price one year ago was $2.12. AAA predicts more than 53.4 million people will travel for the Thanksgiving holiday, up 13% from last year. That includes 48.3 million people by car. In his letter to the FTC chair, Mr. Biden noted that a few months ago, the director of the National Economic Council wrote to her at his request asking the commission to consider monitoring gas markets and consider addressing illegal conduct.
