FTC finds no cases of post-Katrina gasoline ‘price-gouging’ activity

The US Federal Trade Commission found no instances of illegal market manipulation to increase gasoline prices in the weeks following Hurricane Katrina late last summer, the federal agency said in a report issued May 22.While it cited 15 examples of pricing at the refining, wholesale, and retail level that fit the definition of “price-gouging” under the FTC’s fiscal 2006 appropriation, the report also said regional or local market trends and other factors apparently explained the unusual pricing.It also reiterated FTC’s opposition to federal price-gouging legislation, which it said would be difficult to enforce and could cause more problems for consumers than it sol...

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