The Department of Justice (DOJ) and the Federal Trade Commission (FTC) are urging states to join a sweeping probe into major oil companies.
In a joint three-page letter sent to state attorneys general on Friday, federal antitrust regulators called for localized investigations into oil distributors for potential price-fixing, market monopolization and consumer fraud.
Federal antitrust lawyers are asking states to deploy all tools available, as they believe several companies are keeping prices high despite a steep drop in wholesale crude costs.
The coordinated federal-state push comes on the heels of an executive directive from President Donald Trump last week.
On Monday evening, the president accused oil corporations of “gouging” American drivers.
“Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south,” Trump wrote on Truth Social. “The Retailers must quickly react to this statement, and so what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!”
Hellbound and Down 