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Feinstein urges FTC probe of CA’s high gas prices

Something’s fishy about the California’s recent spike in gas prices, U.S. Sen. Dianne Feinstein said today.

Feinstein, D-Calif., sent a letter to Federal Trade Commission Chairman Jon Leibowitz urging that the FTC launch an investigation of the sudden rise in prices at the pump.

“The recent price spike began on August 6th, when a refinery fire at Chevron’s Richmond Refinery reduced refining capacity at the state’s third largest refinery,” she wrote. “However, this dangerous incident has not resulted in a reduction of gasoline supply that would explain the recent rapid price increase.”

Feinstein noted gas prices have risen 30 cents per gallon since then, reaching $4.21. “As a result, California has the highest gas prices in the continental United States. The increase is more than double the increase in the national average over the same period.”

“It is important that the Commission use its statutory authority aggressively to pursue and remedy any market schemes or other market distorting activities that have led to either the August spike in California gas prices or the longer term trend of higher gas prices in California,” Feinstein wrote.

Read the entire letter, after the jump…
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