Wellsville Daily Reporter: Serving Allegany County, NY:
"With gas prices exploding by the hour, Sen. Charles E. Schumer, D-NY, is asking the Federal Trade Commission (FTC) for an investigation.
According to the senator in a news conference Tuesday, there is no gas shortage, the rapidly rising gas prices are due to a lack of production.
'This is a sucker punch right in the gut of New Yorkers,' he said. 'There's not even a hurricane to blame it on.'
'They (oil companies) take advantage of natural and occurring disasters,' he said, 'but that isn't the case this time.'
The senator explained that during the winter months the four leading oil companies refine oil at about an 85 percent capacity, but when spring breaks they usually increase their refining to about 95 percent.
'The oil companies are producing at a lower capacity and delaying the switch over, keeping gas off the market to keep the price high,' he said.
As a result, Schumer has sent a letter to the FTC to 'see why refining is at 85 percent capacity through analysis and investigation.'"
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