During an interview on MSNBC, Democratic Senator Elizabeth Warren claimed—without evidence—that the increase in gasoline prices is not due to inflation but the fault of the oil companies.
Warren stated that, in her opinion, large corporations such as Chevron and ExxonMobil enjoy increasing fuel prices in order to make profits. He further noted that these companies should be talked to in order to regulate the increases.
“This isn’t about inflation. This is about price gouging for these guys and we need to call them out,” Warren said.
Biden agrees with Elizabeth Warren
But, Warren is not the only Democrat to believe this. President Joe Biden last week called on the Federal Trade Commission (FTC) to investigate whether gasoline prices are rising in the country because of “illegal conduct” by big oil and gas companies.
Biden sent a letter to the FTC, Biden alleged that there is “mounting evidence of hostile behavior toward consumers by oil and gas companies.”
“Gasoline prices remain high, even though costs are coming down for oil and gas companies. The Federal Trade Commission has the power to consider whether illegal conduct is taking a toll on families at gas stations,” Biden wrote.