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Gas Prices: How Are They Really Set? (Day 1)

Permanent Subcommittee on Investigations

Location: Room 216, Hart Senate Office Building

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Agenda

The Permanent Subcommittee on Investigations held two days of  hearings on the Subcommittee’s ten-month investigation into gasoline prices entitled "Gas Prices: How Are They Really Set?"  In the Spring and early Summer of 2001, most parts of the country experienced a dramatic increase in the price of gasoline.  Numerous consumer groups expressed concern over price gouging.  The oil companies responded that there were problems with supply.  This series of hearings by the Permanent Subcommittee on Investigations explored how gasoline prices are set and why they have become so volatile.

In connection with this hearing, the Subcommittee's Democratic Staff released a report, "GAS PRICES: HOW ARE THEY REALLY SET."  The report is available via the link at the top left corner of this webpage. 

See PRINTED HEARING RECORD at the top left corner of this webpage.

WITNESS LIST:

MR. JAMES S. CARTER    
Regional Director United States
ExxonMobil Fuels Marketing Company
Fairfax, Virginia

MR. GARY R. HEMINGER
President
Marathon Ashland Petroleum LLC
Findlay, Ohio

MR. ROSS PILLARI

Group Vice President - U.S. Marketing
BP
Warrenville, Illinois

MR. DAVID C. REEVES
President of North American Products
Chevron Texaco Corporation
San Ramon, California

MR. ROB ROUTS
President and CEO
Shell Oil Products U.S.
Houston, Texas