Washington, D.C. — U.S. Rep. Bob Etheridge, the only N.C. member of the House Ways and Means Committee, sent a letter to Federal Trade Commission Chairman Jon Leibowitz today, to investigate constituent and business complaints from North Carolinians, about rising gas prices in the motor fuel market.
“Over the last four months, the price of a barrel of oil has been on a slow, steady increase and that means hundreds, if not thousands of dollars, out of the pockets of families,” said Etheridge. “Energy markets have stabilized but the price of purchasing fuel continues to rise with little, or no, explanation. Someone should explain these fluctuations.”
According to AAA, prices at the pump for regular unleaded gasoline rose for 54 straight days, a climb that was only briefly interrupted when prices hit $2.70 a gallon on June 23. That price marked a 60 percent increase from where retail gasoline prices started in 2009. This does not reflect the average increase in the price of a barrel of oil.
Over the past four months, the price of a barrel of oil has been on a slow, steady climb, in contrast to 2008’s numerous price spikes. The result of this has been an average national price of $2.65 per gallon of gasoline. Although gas prices fluctuate regionally, in North Carolina they have remained between $2.30 and $2.60 per gallon for much of the past two months.
The July 4th holiday has traditionally been the busiest time of year for Americans to travel the nation’s highways since children are out of school and, as a result, parents are more apt to take family vacations.
“American families should not have to accept that gas prices are rising simply because a holiday travel season is upon us,” Etheridge said. “The FTC, and other local and national authorities must do what we can to ensure that citizens are getting a fair shake at the pump.”