Senator McCaskill Pushes for a Wrap Up on Gas Prices Investigation

7 years 11 months 2 weeks ago Friday, March 02 2012 Mar 2, 2012 Friday, March 02, 2012 2:30:00 PM CST March 02, 2012 in News
By: Jeff Mondlock
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COLUMBIA - U.S. Senators Claire McCaskill of Missouri and Charles Schumer of New York are pushing for a wrap up to a Federal Trade Commission investigation of oil refineries over the possibility of fixing gas prices as they continue to rise across the country. Gas prices in Columbia are currently at $3.49 a gallon. Missouri prices are one of the top ten states with the lowest prices in the country.

McCaskill and Schumer are looking to aid in wrapping up the probe on the gas prices. A McCaskill spokesperson says she wants to know if oil refineries are fixing prices artificially high, despite a decrease in demand for gas.

According to data released from the Energy Information Administration, U.S. oil refineries worked at a decreased production from the previous summer at 81 percent, yet the profit margin still rose by more than double.

Democrats say action to reduce prices will be taken immediately if it turns out that the prices are artificially raised solely for a profit.

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