The Justice Department’s Antitrust Division and the Federal Trade Commission warn lawbreaking companies that they are closely monitoring petroleum markets and gas prices and will take all appropriate measures to stop illegal conduct contributing to high gas prices.
Today, the agencies sent a letter to State Attorneys General encouraging them to similarly conduct investigations and bring appropriate enforcement actions under their state antitrust and consumer protection laws. This call to action includes ensuring that companies manipulating retail prices or colluding with their competitors in petroleum markets are held accountable. The letter reinforces the importance of state engagement on potential price gouging and directs consumers to resources to report violations of antitrust laws.
“Affordable energy is essential to a thriving American economy. The Antitrust Division is committed to working alongside state law enforcement partners to provide resources and support to protect consumers from anticompetitive behavior that raises the price of gas,” said Associate Attorney General Stanley Woodward. “The Antitrust Division will use all available tools to ensure that companies are held accountable for unlawfully manipulating the market.”
Members of the public are also encouraged to potential violations of the antitrust laws to the Antitrust Division’s Citizen Complaint Center at 888-647-3258 or www.justice.gov/atr/report-violations. The Antitrust Division may also pay significant financial rewards to individuals who report antitrust crimes. For more information, see www.justice.gov/atr/whistleblower-rewards. Anyone can also report suspected antitrust violations and unfair or deceptive practices to the Federal Trade Commission at ReportFraud.ftc.gov.
