Overview
- On Friday the Justice Department’s Antitrust Division and the Federal Trade Commission sent a joint letter to state attorneys general saying they are closely monitoring oil and retail fuel markets for possible price‑fixing or monopolization.
- The agencies warned that recent crude price volatility does not excuse collusion or other anticompetitive conduct and said businesses may not use market swings as cover for unlawful behavior.
- The letter, from Associate Attorney General Stanley Woodward and FTC Chairman Andrew Ferguson, clarified that the DOJ and FTC do not enforce state price‑gouging statutes and asked states to review whether their laws warrant enforcement.
- Oil companies and trade groups responded that retail pump prices lag crude because of refining limits, transport and distribution costs, taxes, inventories, and local competition, which can explain slower falls at the pump.
- The move increases the likelihood of state investigations and potential civil or criminal antitrust actions, it directs consumers to federal complaint portals, and it raises reputational pressure on major refiners and retailers.