Support for LAist comes from
We Explain L.A.
Stay Connected

Share This


Feds Investigating Possible Price Manipulation of Oil

Stories like these are only possible with your help!
You have the power to keep local news strong for the coming months. Your financial support today keeps our reporters ready to meet the needs of our city. Thank you for investing in your community.

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.

Support for LAist comes from

Related: Crime of the Times: Gas Siphoning

Photo by ccgd via Flickr