Feds Investigating Possible Price Manipulation of Oil

Since December, oil prices have increased 42% and at that same time, Federal regulators have been investigating the U.S. oil market with a focus on possible price manipulation, according to the Associated Press.

Details of the investigation have not been released, but the fact that they are even publicizing the investigation is considered an "unusual step." But to that, the feds say it is "because of today's unprecedented market conditions."

The current average price of a gallon of regular gas in Los Angeles is nearly $4.11 as of yesterday.

Related: Crime of the Times: Gas Siphoning

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