Guam delegate asks FTC to review local oil and gas pricing activities | Guam News
A day after local gas retailers raised prices to $ 4.85 for a gallon of regular grade fuel – the highest in years – Guam Representative to Congress, Del. Michael San Nicolas has rehired the Federal Trade Commission to include Guam in their review of oil and gas pricing activities in the United States.
“We started this work in the Legislative Assembly of Guam when I was a senator, and we were unsuccessful in getting the then congressional office to push the FTC to review our gas pricing issues in Guam. “said San Nicolas.
“As a member of Congress from Guam, we re-engage the FTC on the issue of gas prices in Guam, as they have indicated that a national effort is underway to examine the manipulation of oil and gas prices under the Biden administration, and we look forward to working closely with to ensure that gas price activity in Guam is finally assessed at the federal level. ”
Lina M. Khan, chairman of the Federal Trade Commission, responded to San Nicolas’ request, thanking him for his “vigilance in promoting competition”.
“Thank you for your letter requesting the inclusion of Guam in the Federal Trade Commission’s efforts to control illegal business conduct in the oil and gas markets. I appreciate the information you have provided in this regard,” wrote Khan. “As I indicated in my August 25, 2021 letter to the Director of the National Economic Council, FTC staff will strengthen oversight of the oil and gas markets to prevent illegal practices that harm Americans at the pumps.”
San Nicolas said his office is holding additional meetings as requested by the FTC. He will keep the community informed as new information becomes available.