FTC refining way it tracks gasoline price spikes

06/10/2002
The Federal Trade Commission said it plans to be more sophisticated in the way it monitors gasoline price spikes. FTC Chairman Timothy Muris late last month said that the commission's monitoring efforts will include the use of a statistical model to track gasoline price spikes on a "real-time" basis that regulators can use to monitor market factors more quickly.The model will use data from the Oil Price Information Service (OPIS) on daily average retail prices for about 360 cities, as well as data on daily average wholesale (rack) prices for 20 key urban areas across the country, representing about 40% of all US gasoline stations, FTC said.Muris's comments were part of a 2-day pub...
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