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Message
DOJ and FTC press states to target any illegal activity contributing to high gas prices
Posted on 7/6/26 at 7:20 am
Posted on 7/6/26 at 7:20 am
quote:
The federal government is urging state attorneys general to probe and prosecute any illegal activities contributing to high fuel costs for Americans.
"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," the letter, signed by Associate Attorney General Stanley Wodward Jr. and Federal Trade Commission Chair Andrew Ferguson, claims.
The document includes a screenshot of a Truth Social post that President Donald Trump issued last week.
In that June 24 post, Trump asserted, "The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being ‘gouged.’ I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!"
quote:
"We urge state law enforcers to join us in investigating illegal practices. Recent volatility in crude oil prices does not suspend either the antitrust laws or state consumer protection laws, and it does not authorize companies to manipulate retail prices or collude with their competitors.
"We also encourage State Attorneys General to use all tools available under your state laws to investigate and prosecute any misconduct causing unjustified price increases — particularly conduct that violates state antitrust and consumer protection statutes. Although the Division and the Commission do not enforce any laws aimed specifically at price gouging rather than anticompetitive conduct, many States have also enacted laws specifically targeting price gouging during periods of market disruption or emergency, and we urge those states to review whether enforcement is warranted under those laws."
quote:
In part of a post Wednesday, he (the President) declared, "Just as I promised, Oil Prices are plummeting FAST, and Gas Prices at the pump are dropping too, but not as fast as they should be."
LINK
Maybe we can get this kind of trust busting energy going during the 2027 Crawfish Season.
4
Posted on 7/6/26 at 7:28 am to ragincajun03
is it because they're still producing gas with crude they paid a high price for? serious question, doesn't seem like a downstream or whatever you call it product would drop the next day as what it is made from.
Posted on 7/6/26 at 7:29 am to ragincajun03
Not too often that Trump, Biden, and Bernie are all on the same page 
Posted on 7/6/26 at 7:31 am to ragincajun03
On February 15, 2026, price of gas in my zip code was $2.55/gallon and oil was $67 a barrel.
Today it is $68/barrel and gas is $3.35/gallon.
Trump is correct.
Today it is $68/barrel and gas is $3.35/gallon.
Trump is correct.
Posted on 7/6/26 at 7:38 am to TDsngumbo
Except the price barrel of oil is for future delivery
This post was edited on 7/6/26 at 7:40 am
Posted on 7/6/26 at 7:43 am to weskarl
Current spot market for gasoline (RBOB) is ~$2.95. Why use oil price to figure out gasoline prices when there is a spot market for the actual product?
Posted on 7/6/26 at 7:50 am to StormyMcMan
quote:
Why use oil price to figure out gasoline prices when there is a spot market for the actual product?
That's evidently what politicians/bureaucrats are doing right now to say retail gasoline prices should be lower.
Posted on 7/6/26 at 8:37 am to TDsngumbo
quote:
On February 15, 2026, price of gas in my zip code was $2.55/gallon and oil was $67 a barrel.
Today it is $68/barrel and gas is $3.35/gallon.
Trump is correct.
So go to a gas station charging less. There are apps and easy ways to identify who is charging what. That said, of course collusion is illegal, but gas stations can and should be able to charge whatever they want. And I get why Trump would say something like this, but I'm very much a believer in that none of us has a "right" to a product created by someone else at a price we think we should be paying
This post was edited on 7/6/26 at 8:38 am
Posted on 7/6/26 at 8:55 am to ragincajun03
Is there an accepted barrel price to gallon price ratio that the stations "should" be hitting? A historical norm if you will?
We'd all love it if gas was $1.50 a gallon, but I'm sure there's a reasonable floor somewhere, just curious how that is set and what the consensus is
We'd all love it if gas was $1.50 a gallon, but I'm sure there's a reasonable floor somewhere, just curious how that is set and what the consensus is
Posted on 7/6/26 at 9:13 am to OldManRiver
quote:
Is there an accepted barrel price to gallon price ratio that the stations "should" be hitting? A historical norm if you will?
Well...I guess we could use Commie Bernie's tweet someone posted above, comparing oil vs. gasoline prices from 2011 vs. 2022.
Seems the President is agreeing with Bernie, though.
Posted on 7/6/26 at 9:17 am to Loup
quote:
is it because they're still producing gas with crude they paid a high price for? serious question
It is because we ran the world reserves of gasoline to historically low levels.
Considering it takes weeks just to get the crude to refiners then they have to process and ship. So while the crude market is being flooded and dropping the price the supply side of the finished product has to catch up.
Also, everyone is looking at August crude prices (granted prompt has started falling)
This post was edited on 7/6/26 at 9:22 am
Posted on 7/6/26 at 10:13 am to fightin tigers
A couple of weeks ago I was in Pittsburgh and gas was nearly 5 a gallon. I was cursing Josh Shapiro like a dog when I traveled back into West Virginia it was under 4 and in some cases well under.
There were some places in Ohio and Kentucky along the interstate where they pulled this BS too,The excuse given at one stop? Gas just costs more along the interstate. None of it in Tennessee and Alabama. There is absolutely price gouging going on, or there was then, without a doubt.
Your explanation doesnt fly when you consider the vast differences in price from state to state and location to location, some separated by a matter of a few miles.
There were some places in Ohio and Kentucky along the interstate where they pulled this BS too,The excuse given at one stop? Gas just costs more along the interstate. None of it in Tennessee and Alabama. There is absolutely price gouging going on, or there was then, without a doubt.
Your explanation doesnt fly when you consider the vast differences in price from state to state and location to location, some separated by a matter of a few miles.
This post was edited on 7/6/26 at 10:21 am
Posted on 7/6/26 at 10:14 am to ragincajun03
quote:
That's evidently what politicians/bureaucrats are doing right now to say retail gasoline prices should be lower.
bc they are appealing to the masses who are generally dumb
Posted on 7/6/26 at 10:27 am to antibarner
Supply and demand.
Distribution networks, supply networks, competition all go into the price of a gallon of gasoline.
Colonial pipeline goes right through Alabama and really Tennessee. Ohio and Kentucky are in a completely different PADD and are serviced in a different way.
Refineries issues in PADD 2 will drive Midwest prices up and not touch neighboring states that are serviced via a different PADD.
Distribution networks, supply networks, competition all go into the price of a gallon of gasoline.
Colonial pipeline goes right through Alabama and really Tennessee. Ohio and Kentucky are in a completely different PADD and are serviced in a different way.
Refineries issues in PADD 2 will drive Midwest prices up and not touch neighboring states that are serviced via a different PADD.
Posted on 7/6/26 at 10:41 am to fightin tigers
Maybe so, but when you see 4.89 at one station and10 miles down the road 3.79 thats hard to explain. You do that shite during a hurricane here and they lock you up.
This post was edited on 7/6/26 at 10:42 am
Posted on 7/6/26 at 10:49 am to antibarner
quote:
but when you see 4.89 at one station and10 miles down the road 3.79 thats hard to explain
Pretty easy to explain
It is hard to accept.
Posted on 7/6/26 at 10:52 am to antibarner
quote:
but when you see 4.89 at one station and10 miles down the road 3.79 thats hard to explain
There's a Shell gas station (a bit, a small one) that's right up against River Oaks neighborhood in Houston that is always $1.20+ per gallon more than other stations a mile or two down the road. Yet...people must stop there and pay for the gas, since it's been in business as long as I've been in and out of that area.
Either that or the owner doesn't care if he/she sells much gas.
I'm not sure how that would be considered price gouging when drivers can just go a few blocks South of there and be at a station over $1/gallon cheaper. The consumers have plenty of choices.
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