Crude Oil Biggest Factor in Gas Prices, FTC Finds

above the past 20 years, changes in the price of in a raw state oil have led to 85 percent of the changes in the retail price of gasoline in the U according to a Federal Trade Commission (FTC) report. Other important factors have included increasing demand, minister restrictions, and federal, state, and local regulations of that kind as "clean fuel" requirements and taxes, the FTC investigation found.

"U.S. consumer are frustrated by dint of rising gasoline prices, and they be entitled to to know the facts. Further, alone through a hard look at the facts can officials make what likely are tough decisions and devise meaningful answers to important consumer issues," said Chairman Deborah Platt Majoras. "The Federal Trade Commission will continue to watch closely for signs of anticompetitive or fraudulent guidance in the petroleum industry, and will take swift action against any law violation."

The report cites a spike in Phoenix gas prices during the