The Department of Justice (DOJ) on Friday announced it is urging state attorneys general to probe whether oil companies are illegally keeping gasoline prices artificially high after a recent decline in crude oil prices following a temporary end to hostilities between the United States and Iran.
In the letter, DOJ Assistant Attorney General Stanley Woodward and Federal Trade Commission Chairman Andrew Ferguson said that “although crude oil prices are now dropping rapidly, far too much of that price cut is being withheld from Americans when they pay for gasoline.”
“High gas prices hit everyone’s pocketbooks—workers who commute to their jobs, small business owners who depend on fuel for deliveries, and families paying more for goods shipped to their neighborhood stores,” the letter states, also noting President Donald Trump’s recent Truth Social posts that called on gas stations and oil companies to lower prices….