Schumer wants the Federal Trade Commission to look out for gas gouging
The Federal Trade Commission (FTC) should be watching the gasoline pump to help guard against price gouging in the wake of Hurricanes Harvey and Irma and the shortages of oil they brought, according to U.S. Sen. Chuck Schumer, who said price in August and September were unfair.
Schumer (D-New York) is asking the FTC to set up a “gouge watch” effort to help inform consumers.
“In terms of this nation’s supply and demand for gasoline, Hurricanes Harvey and Irma were short-term disruptions that really shouldn’t have a long-term impact on prices at the pump. Gas prices should come back down to earth just as fast as they went up. But right now, my worry is they will not fall as fast as they should. That is why I am asking the FTC to launch a ‘gouge watch’ with oil producers, transporters and refiners alike,” Schumer said in a statement.