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FTC reportedly launches oil price-fixing investigation

The agency’s investigation follows a similar probe by EU regulators

Wondering why gas prices are so high in parts of the country (Chicago, we’re looking at you)? So is the Federal Trade Commission (FTC), which has launched an investigation into the pricing of crude oil and petroleum-derived products, according to a Bloomberg report.

The agency’s investigation comes on the heels of a similar European Union probe, which also includes the pricing of crude oil-derived products and biofuels. Earlier this year, EU authorities raided the offices of Royal Dutch Shell Plc, Statoil ASA and BP Plc, and also reportedly looked into the methods of Platts, a McGraw Hill-owned price publisher whose price assessments are often used as a benchmark in energy markets.

Alanna Byrne

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