US regulators target oil and gas mergers as fuel prices surge
Al Jazeera
The decision also comes as oil prices have become a political liability for US President Joe Biden, heightened by fresh concerns that Hurricane Ida could further push up prices at the pump.
The Federal Trade Commission is examining ways to crack down on mergers and acquisitions in the oil and gas industry and investigate whether gas station franchise networks are driving up gas prices as part of a Biden Administration effort to combat higher prices at the pump. FTC Chair Lina Khan is directing staff to identify new legal theories to challenge retail fuel station mergers 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. The FTC also plans to impose “prior approval” requirements to deter oil and gas mergers, including in retail gas markets, that could be illegal.
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