Disputed buy: Tanker trucks enter the Marathon Petroleum refinery in Texas. The firm’s sale of the Speedway retail chain to 7-Eleven brought about FTC scrutiny. ― Bloomberg
WASHINGTON: The Federal Trade Commission (FTC) is examining ways to crack down on mergers in the oil and gas (O&G) industry and investigate whether gas station franchises are driving up gas prices as part of president Joe Biden administration’s effort to combat higher costs at the pump.
FTC chair Lina Khan is directing staff to identify new legal theories to challenge retail fuel station deals and investigate possible collusion by national chains to push up prices, she said in an Aug 25 letter to White House economic adviser Brian Deese obtained by Bloomberg News.
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