Washington, DC – Today Congresswoman Darlene Hooley (OR-05) joined colleagues in asking President Bush, the Federal Trade Commission (FTC) and the U. S. Department of Justice (DOJ) to act in reigning in bad actors along the production supply chain, leading to unaffordable fuel costs for families and possible shortages at the pump.

“Prices at the pump have jumped precipitously overnight and news of $6 per-gallon gasoline in some parts of the country makes it impossible for many families to meet their basic transportation needs,” said Hooley.  “They deserve to know whether oil companies are making legitimate profits or gaming the system.”

 According to the American Automobile Association, gas prices remain at $3.04 per gallon on average.  This price level constitutes a “consumption tax” on American businesses and individuals which is already harming the nation’s economy.

The Federal Trade Commission, which enforces federal laws on competition, has worked to maintain competitive energy markets and protect businesses and consumers from gasoline price increases caused by illegal anti-competitive behavior.  The Department of Justice enforces anti-trust violations such as collusion. 

“I am concerned that some of the current high costs of gasoline may attributable to excessive profit-taking at the wholesale level,” said Hooley. “These outrageously high prices have hit businesses throughout the Northwest that rely on gasoline and diesel particularly hard, especially farms and trucking companies.  They are threatening our region’s fragile economic recovery.”

Copies of the letters are available below.