NY lawmaker wants FTC to investigate gas prices

www.wmtw.com Friday,February21,2003,7:55 AM

UNDATED (AP) -- The middle of winter is looking more like summer at gas stations nationwide. That's as fuel prices surge past two dollars a gallon in some places and motorists grumble about being gouged.

Political instability in Venezuela and the prospect of war in Iraq are triggering price hikes that normally don't kick in until the peak driving season. And experts warn prices could shoot up even more as the political situations and the weather heat up.

The average retail price for a gallon of regular unleaded has risen 22 cents since the beginning of the year. But because wholesale gas prices have increased just 14 cents over the same period, some consumers suspect oil companies are trying to cash in.

Democratic Senator Charles Schumer of New York is calling on the Federal Trade Commission to investigate industry practices.

In a letter, Schumer wrote: "It appears as if price gouging is taking place across the country."

AAA supports Schumer's request, but stops short of using the word "gouging."