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<a href="http://www.accessmylibrary.com/article-1G1-106003138/senate-panel-probing-gasoline.html" title="Facts and information about Senate Panel Probing Gasoline Price Spikes Questions Firms' Aims No Evidence Of Collusion But senator insists jump across all brands shows they want tight supplies.(A)">Senate Panel Probing Gasoline Price Spikes Questions Firms' Aims No Evidence Of Collusion But senator insists jump across all brands shows they want tight supplies.(A)</a>
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Senate Panel Probing Gasoline Price Spikes Questions Firms' Aims No Evidence Of Collusion But senator insists jump across all brands shows they want tight supplies.(A)
Byline: SEAN HIGGINS
Sen. Carl Levin, D-Mich., suspects the problem is "parallel pricing."
"In Michigan, the price of gas seemed to leap up overnight by the same amount across all brands of gas at all stations," he told executives of five oil giants Tuesday.
"If there were real competition in the industry . . . why would the prices of different brands go up and down together?" he asked.
Levin said it was "anti-competitive" and ought to be actionable. "It may not be illegal, but it is not a coincidence," he said.
The oil executives begged to differ at yet another round of congressional hearings into profit-making by energy companies.
Levin called the hearings for Tuesday and Thursday to release a report by the Senate Governmental Affairs Committee claiming that recent oil-company mergers had tightened the market enough to cause price spikes.
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