Democratic senators propose boosting FTC oversight of fuel prices

WASHINGTON, May 1 (Reuters) - Three Democratic senators on Friday proposed legislation to ‌boost oversight by the Federal Trade Commission of fuel prices to address market manipulation ⁠or fraud that may increase what drivers pay.

Senators Maria Cantwell, Alex Padilla and Ron Wyden introduced a bill that would also increase ‌price ⁠transparency in transportation fuel markets. The proposal would boost the FTC’s ⁠oversight authority to cover the full range of transportation ⁠fuels including biofuels, and increase penalties ⁠for manipulating wholesale oil markets.

Reporting by David Shepardson; Editing by Kevin Liffey

Reuters

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Democratic senators propose boosting FTC oversight of fuel prices

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