Investigations into gasoline price gouging continue

Missouri Attorney General Jay Nixon has extended his investigation into price gouging for several weeks to cover Hurricane Rita, expected to hit Texas and Louisiana tonight.

More than 50 stations in Missouri already are under review for price gouging after Hurricane Katrina. Results of that investigation should be announced next week.

Meanwhile, a Federal Trade Commission-led investigation into price gouging after Katrina is expected to close soon, and the U.S. Gas Price Task Force is demanding details of the results. Southwest Missouri Congressman Roy Blunt is chairman of the task force, which yesterday submitted a list of questions it expects the FTC to answer:

• What has the investigation revealed in the weeks since Hurricane Katrina?

• What is the FTC’s analysis on the fluctuation of prices at the wholesale level?

• Can the FTC provide an analysis of changes in gas prices between the week before the hurricane and the week following?

• What is the FTC’s explanation for the discrepancy between prices at branded stations and prices at independent stores?

“As gas prices continue to rise, the American people are forced to dig deeper into their pockets to travel to work, pick their kids up from school or go to the supermarket,” the task force said in a news release.

“Given these circumstances, it is important we have a complete understanding of market practices to make informed decisions on what additional steps need to be taken to lighten the load.”