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No gas price gouging last summer, report finds.
Byline: Alejandro Bodipo-Memba
Aug. 31--A federal report released Thursday found no evidence of price gouging last year as gasoline prices pushed beyond the $3-a-gallon barrier last year.
The Federal Trade Commission and the United States Department of Justice's Antitrust Division Report on Spring/Summer 2006 Nationwide Gasoline Price Increases listed six reasons for the spike in pump prices in 2006:
-- Seasonal effects of the summer driving season.
-- Increases in the price of crude oil.
-- Increases in the price of ethanol.
-- Capacity reductions stemming from refiners' transition from the fuel additive methyl tertiary-butyl ether to ethanol.
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