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Sends letter to chairman of Federal Trade Commission in wake of price spike

Congresswoman Virginia Foxx sent a letter to the Federal Trade Commission requesting an investigation of massive gas price increases in North Carolina that began on Friday, September 13.  Reports of prices upwards of $5.00 prompted Rep. Foxx to write to the FTC Chairman in ensure that potentially unlawful price increases are investigated.

The text of the letter follows:

Mr. Willian E. Kovacic
Chairman
Federal Trade Commission
600 Pennsylvania Avenue, NW
Washington, DC 20580

Dear Chairman Kovacic:

The threat of Hurricane Ike’s effect on our nation’s oil supply is being reflected in an unnecessary, extreme increase in gasoline prices in North Carolina.  This is of great concern to me, as consumers are already overwhelmed by high energy costs.  Adding to this burden is extremely harmful to my constituents. 

While I understand that some of pipelines used to transport gasoline into North Carolina are based on the Gulf of Mexico, it does not seem reasonable that the price at the pump should have leaped in an excessive amount.  Consumers have been experiencing prices that have increased by over $1 per gallon in one day.  This is unprecedented and unwarranted, even in the case of a natural disaster.

I request that you investigate these price fluctuations to ensure that prices are not being unlawfully increased.  We must make certain that consumers are being treated fairly.

Thank you for your time, attention, and consideration.

Sincerely,

Virginia Foxx
Member of Congress