Summary
LONG BEACH - With the average local price of a gallon of gas significantly higher than a bottle of "two-buck Chuck" at Trader Joe's, local members of Congress pressed a panel of oil industry and government energy officials for answers at a congressional subcommittee hearing in Long Beach City Council Chambers Monday.
Gas prices in Southern California have surged 20 percent in the last year to an average of $2.59 last week amid pressures from low global oil supply, unrelenting demand in Asia and whispers of price- gouging.See the full content of this document
Extract
Gas Prices: Are Mergers to Blame?
Rep. Darrell Issa, R-Vista, and Rep. Diane Watson, D-Los Angeles, of the House government reform subcommittee on energy and resources, went on the offensive to find reasons behind California's sky-high prices.
"At a time when (crude oil) prices ar...See the full content of this document
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