Biden: Gas Suppliers Need to Pass Savings to Consumers

Gas prices have not decreased at the pump despite a 10% drop in wholesale prices, leading to increased profits for gas companies. This discrepancy suggests consumers are overpaying by at least $0.25 per gallon. The Federal Trade Commission has been asked to investigate potential illegal and anticompetitive practices in the oil and gas industry to ensure fair pricing for consumers.

What has happened to wholesale gas prices recently?

• They have decreased by 10%

• They have increased by 10%

• They have fluctuated unpredictably

• They have remained stable

What is the impact of the unchanged retail gas prices on consumers?

• Consumers are paying less for gas

• Consumers are paying more than they should

• Consumers are unaffected

• Consumers are receiving discounts

How much less would Americans be paying per gallon if prices were aligned with past averages?

• $0.30 less

• $0.25 less

• $0.15 less

• $0.10 less

What action has been requested to address the gas price issue?

• A reduction in taxes

• A subsidy for consumers

• An increase in gas supply

• An investigation by the Federal Trade Commission

What is the purpose of the FTC investigation?

• To increase gas prices

• To ensure fair pricing for consumers

• To promote competition among gas companies

• To reduce gas production