off-the-wire

Democratic senators propose boosting FTC oversight of fuel prices

Kitco Media
By Reuters
Published:
Updated:
Reuters
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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

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