U.S. Looking at Jump in Heating Oil Prices
The Justice Department is looking into the recent surge in oil prices to see if price collusion took place, an Energy Department official said today.
Assistant Energy Secretary John Easton told a House subcommittee that the Justice Department has received numerous complaints about high price increases for heating oil and natural gas during December’s record cold weather. In some areas, retail prices rose by 50% or more. He said price increases would be unlawful under antitrust laws if they were made in collusion among competitors.
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