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.
THE HONORABLE RON WYDEN (D-OR)
United States Senator
THE HONORABLE RICHARD BLUMENTHAL
State of Connecticut
THE HONORABLE JENNIFER GRANHOLM
State of Michigan
MR. TOM GREENE
Senior Assistant Attorney General for Antitrust
California Department of Justice
MR. PETER ASHTON
Innovation and Information Consultants
DR. JUSTINE HASTINGS
Assistant Professor of Economics, Dartmouth College
Hanover, New Hampshire
DR. R. PRESTON McAFEE
Murray S. Johnson Professor of Economics
University of Texas
DR. PHILIP K. VERLEGER, JR.
PK Verleger, LLC
Newport Beach, California