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The Potters Herald
East Liverpool, Columbiana County, Ohio
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Senators Joseph O'Mahoney and Homer Ferguson introduce a Senate resolution to probe monopoly aspects of rising gasoline prices, questioned for uniform increases and shifting blame on weather and supplies. This marks the fourth such investigation proposed in Congress this session.
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Washington (LPA)—How come gasoline prices have been rising regularly for the past five years? And how come the rises are uniform for all companies? How come they're blamed on a cold winter and short supplies of fuel oil, and then blamed on a warm winter? How come they're first blamed on heavy petroleum imports, and later blamed on inadequate foreign supply?
The answers to these and other questions are sought by Senators Joseph O'Mahoney (D., Wyo.) and Homer Ferguson (R., Mich.), in a resolution for a probe of the monopoly aspects of gasoline pricing that they introduced in the Senate.
This is the fourth investigation of the oil industry's pricing practices proposed in this session of Congress. Rep. Clarence Cannon (D., Mo.) wants the Federal Trade Commission to have a full-dress inquiry. And two House committees are also studying the question. So far, none have come up with any answers.
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Location
Washington (Lpa)
Event Date
Past Five Years, This Session Of Congress
Story Details
Questions arise about uniform gasoline price increases over five years and inconsistent excuses like weather and supplies; Senators O'Mahoney and Ferguson introduce resolution for Senate probe into oil monopoly pricing; fourth such investigation proposed, including FTC inquiry and House committees, with no answers yet.