Markets Wired

Federal Trade Commission Chairman Jon Leibowitz issued the following statement regarding the recent spike in gasoline prices in California:

“The Commission is keenly aware of recent gasoline price spikes in California, and fully appreciates the strain that high gasoline prices place on individual consumers who have less money for other necessities, and on the economy as a whole.  We are committed to ensuring competitive energy markets through the enforcement of the antitrust laws, and the new authority Congress gave us to address manipulative practices. We will remain vigilant in our oversight responsibility, and if we see a violation of the laws that we enforce, we won’t hesitate to act.”

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action.  To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20580.  To learn more about the Bureau of Competition, read Competition Counts.  Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.