Connecticut Attorney General's Office
Press Release
Attorney General To Seek Federal, Multistate Investigations Of Recent Gasoline Price Spike
May 11, 2009
Blumenthal noted that in a recent letter to his office, the Gasoline & Automotive Service Dealers of America, Inc., said Connecticut wholesale gasoline prices have soared 54 cents a gallon since Feb. 19, even though national inventories are at an 18-year high and demand is at a seven-year low.
"Questions about the gasoline market are serious and substantial, meriting searching scrutiny and investigation," Blumenthal said. "My hope is that Connecticut can enlist other states in a nationwide review, because the problem is national in scope and impact. Most important, I will urge that the federal government join states in a comprehensive, penetrating antitrust investigation of the fuel industry -- as I have urged repeatedly in past years.
"For eight years, the federal government has been AWOL in antitrust enforcement -- a virtual ally of big business. A new administration with a new antitrust team can be a strong, aggressive partner in protecting consumers against antitrust abuses in this highly concentrated, noncompetitive industry and others. Only today, in a speech delivered by Assistant U.S. Attorney General for Antitrust Enforcement Christine Varney, the administration is sending positive and encouraging signals that it will resuscitate federal antitrust enforcement -- an extraordinarily significant message for states pursuing pricing abuses in the gasoline market.
"We look forward to pursuing these issues vigorously and promptly. I will contact both federal and state officials to seek help in organizing this effort."