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 been the trend in gas prices over the last few weeks?

How are gas supply companies responding to changes in wholesale prices?

What would be the expected price difference for consumers if the gap between wholesale and retail prices was in line with past averages?

What actions has the speaker taken regarding the Federal Trade Commission?

What is the speaker's concern about the oil and gas industry?