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FTC says takes "deeper look" at jetfuel, diesel
Thursday, May 15, 2008
Reuters -- WASHINGTON (Reuters) - The U.S. Federal Trade Commission is taking a "deeper look" at diesel and jet fuel prices amid soaring costs, the agency's head told a U.S. Senate panel on Wednesday.

"We're looking at this very carefully," FTC Chairman William Kovacic told the Senate Appropriations Financial Services and General Government subcommittee. The agency is taking "a deeper look at both jet fuel and diesel," Kovacic said.

Lawmakers quizzed FTC officials on why prices for jet fuel and diesel have risen more quickly than gasoline, noting that truckers and airlines have taken a big hit.


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JT
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Message Posted: 5/15/2008 10:54:58 AM  Ignore JT Report Abuse
Thursday, May 15, 2008
Reuters -- WASHINGTON (Reuters) - The U.S. Federal Trade Commission is taking a "deeper look" at diesel and jet fuel prices amid soaring costs, the agency's head told a U.S. Senate panel on Wednesday.

"We're looking at this very carefully," FTC Chairman William Kovacic told the Senate Appropriations Financial Services and General Government subcommittee. The agency is taking "a deeper look at both jet fuel and diesel," Kovacic said.

Lawmakers quizzed FTC officials on why prices for jet fuel and diesel have risen more quickly than gasoline, noting that truckers and airlines have taken a big hit.

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REPLIES (newest first) Page:  First Prev [ 1 ] 2 3 4 Next Last
JOHNNY95206
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California

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Message Posted: 5/19/2008 6:40:58 PM  Ignore JOHNNY95206 Report Abuse
this will help at the store no
magnumCA
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Los Angeles

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Message Posted: 5/19/2008 5:04:44 PM  Ignore magnumCA Report Abuse
I can sum it up in two words GREED and MONEY
NJColt
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New Jersey

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Message Posted: 5/18/2008 3:13:33 PM  Ignore NJColt Report Abuse
pulease... look no further than GREED!
kansas_dude
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Wichita

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Message Posted: 5/16/2008 1:23:21 PM  Ignore kansas_dude Report Abuse
Lawmakers quizzed FTC why jet fuel and diesel rises more quickly??

there is more added to jet fuel and diesel, thats why those 2 rise quickly
OSHAPT
Sophomore Author
Virginia

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Message Posted: 5/16/2008 11:01:57 AM  Ignore OSHAPT Report Abuse
More nonsense.
NavyEOD
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Los Angeles

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Message Posted: 5/16/2008 10:54:37 AM  Ignore NavyEOD Report Abuse
Why just look, do something about it.
HoosierDaddyTX
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Dallas

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Message Posted: 5/16/2008 10:49:46 AM  Ignore HoosierDaddyTX Report Abuse
I cannot believe the oil companies and refiners would engage in price gouging. They seem to be such honest people. :o)
mysub
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Las Vegas

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Message Posted: 5/16/2008 10:48:26 AM  Ignore mysub Report Abuse
I sure agree with fairchildd. DO something instead of just looking.
Somis1
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Ventura

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Message Posted: 5/16/2008 10:47:24 AM  Ignore Somis1 Report Abuse
And nothing will come of this "look" either....
1shot
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Dallas

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Message Posted: 5/16/2008 10:45:38 AM  Ignore 1shot Report Abuse
I wish the electorate would "Look Deeper" into Congress and vote accordingly!!
hangupanddrive
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Michigan

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Message Posted: 5/16/2008 10:44:14 AM  Ignore hangupanddrive Report Abuse
Good about time. Of course just looking??
PenDoctrJD
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Orange County

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Message Posted: 5/16/2008 10:41:08 AM  Ignore PenDoctrJD Report Abuse
It cost less to make diesel and jet fuel than gasoline despite what they say.
AnObserver
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New Jersey

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Message Posted: 5/16/2008 10:37:27 AM  Ignore AnObserver Report Abuse
I wish they would take a look a my home heating oil bill :>(
bicycler
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Ontario

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Message Posted: 5/16/2008 10:35:38 AM  Ignore bicycler Report Abuse
rogerparry; Do not hope for much! Mr Kovack has already given the oilbarons an excuse, noting that foreign needs have pushed up the price of fuel. A good study should start from the beginning not half way!
Donations from the oilbarons should be considered also because those who lobby in our capitols are donating to the political elections.
rogerparry
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Florida

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Message Posted: 5/16/2008 10:26:24 AM  Ignore rogerparry Report Abuse
It's about time. Hopefully they will actually do some good.
s11
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Toronto

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Message Posted: 5/16/2008 10:25:17 AM  Ignore s11 Report Abuse
Tough to take a look when you're wearing blinders.

$127 and climbing.
Capt2007
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Victoria

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Message Posted: 5/16/2008 10:24:38 AM  Ignore Capt2007 Report Abuse
do they have prescription glasses as they look?
fairchildd
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Kansas City

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Message Posted: 5/16/2008 10:20:33 AM  Ignore fairchildd Report Abuse
how about doing something instead of just looking?
woos777
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Washington

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Message Posted: 5/16/2008 10:20:02 AM  Ignore woos777 Report Abuse
This is a "Yeah right, whatever" article.
JRFAN88
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Ontario

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Message Posted: 5/16/2008 10:19:33 AM  Ignore JRFAN88 Report Abuse
My question is..Now that airlines are charging a fuel surcharge on flights how long do you think it will be before all companies selling their commodities are doing the same??? Funny thing is that as a man that has been under the employ of the transportation sector throughout my working life I always wondered and knew eventually the world would have to understand that "If you got it a truck brought it" and transportation is not free..yet no-one seems to understand that.
Mononen
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Cleveland

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Message Posted: 5/16/2008 10:19:16 AM  Ignore Mononen Report Abuse
deeper look? "very carefully"? ACTION NOW! Do something! Everyone is waiting.
Don20
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Oklahoma City

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Message Posted: 5/16/2008 10:15:40 AM  Ignore Don20 Report Abuse
Looking will not accomplish anything at the pump. Some action has to be taken, to lower prices.
s6sputnik
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Austin

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Message Posted: 5/16/2008 10:14:19 AM  Ignore s6sputnik Report Abuse
Wasting more money, but making themselves look legit?
grccMI
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Grand Rapids

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Message Posted: 5/16/2008 10:14:00 AM  Ignore grccMI Report Abuse
They alrady found if they fly slower they use a lot less. What is 5 minutes?
w4kh
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Riverside

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Message Posted: 5/16/2008 10:13:53 AM  Ignore w4kh Report Abuse
Refineries at 87% of capacity, prices holding and going up, dollar weakening, more resources pumped into Iraq... Oil profits down (percentage-wise) so our White House Idiot and DickieBoy must be in a panic, and begging their Oil Buddies to hold the line...
CheapoBob
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Alabama

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Message Posted: 5/16/2008 10:13:04 AM  Ignore CheapoBob Report Abuse
yea, right
niceguytx
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Houston

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Message Posted: 5/16/2008 10:11:05 AM  Ignore niceguytx Report Abuse
It sounds like they are being told to get some concessions from big oil.
Gas_Buzzer
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South Carolina

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Message Posted: 5/16/2008 10:07:34 AM  Ignore Gas_Buzzer Report Abuse
What exactly is "A deeper look"?
REVLAW
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San Antonio

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Message Posted: 5/16/2008 10:05:48 AM  Ignore REVLAW Report Abuse
"... taking a deeper look ..." translates into "don't bother us, we'll look at it with the usual whitewash approach."
Cuzilla
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Indianapolis

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Message Posted: 5/16/2008 10:04:45 AM  Ignore Cuzilla Report Abuse
Oil is sold on a world futures market. These Congressional hearings are a "dog and pony" show!
cbpilot
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Riverside

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Message Posted: 5/16/2008 10:02:38 AM  Ignore cbpilot Report Abuse
Why don't they take a look at whether the oil shortage is real in the first place?
RdHogg
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Houston

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Message Posted: 5/16/2008 10:01:41 AM  Ignore RdHogg Report Abuse
FTC needs to look into all the pricing of all the grades of gas..
GooseMI
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Grand Rapids

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Message Posted: 5/16/2008 10:01:28 AM  Ignore GooseMI Report Abuse
Another two year project
AC-302
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Los Angeles

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Message Posted: 5/16/2008 10:00:45 AM  Ignore AC-302 Report Abuse
It's a question why kerosine derivatives have risen more sharply than gasoline. I suspect the reason is simple greed, but that's not necessarily a bad thing. This is intended more as an observation than an accusation...
spunky4443
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Washington

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Message Posted: 5/16/2008 9:59:11 AM  Ignore spunky4443 Report Abuse
What it always got to me, about diesel prices, its cheaper for them to make Diesel than gasoline, yet Diesel costs more, don't make sense.
sumthingstinks
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Tulsa

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Message Posted: 5/16/2008 9:58:09 AM  Ignore sumthingstinks Report Abuse
Why do they always seem to blame overseas demand. Funny how only recently that has become a problem. I call BS
kingdick
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Minnesota

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Message Posted: 5/16/2008 9:57:37 AM  Ignore kingdick Report Abuse

Most state and federal gas taxes are a fixed rate X cents per gallon.
scrounger
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Vancouver

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Message Posted: 5/16/2008 9:53:26 AM  Ignore scrounger Report Abuse
GREED!!!!
Bity
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Wichita

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Message Posted: 5/16/2008 9:50:36 AM  Ignore Bity Report Abuse
We need more action!
DeHavilland
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Toronto

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Message Posted: 5/16/2008 9:49:41 AM  Ignore DeHavilland Report Abuse
Retowered is right. Greed is the only reason.
Retowered
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Colorado

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Message Posted: 5/16/2008 9:47:06 AM  Ignore Retowered Report Abuse
What happend to diesel it used to be the cheapest then greed took over.
Zacchaeus
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Missouri

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Message Posted: 5/16/2008 9:46:45 AM  Ignore Zacchaeus Report Abuse
Sure would like to see diesel come down.

To fill my 150 gal diesel tank in the big RV (40') at $4.25 (Missouri)
totals $637.00. But that will last two days so its only $318.00 per day, driving 9 hours a day it's only $35.00 an hour.

But who's driving? It's parked .....

Zac
rod1965
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Portland

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Message Posted: 5/16/2008 9:44:14 AM  Ignore rod1965 Report Abuse
yeah big oil, why has it risen? Are you finally showing your hand?
Brockvillian
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Ontario

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Message Posted: 5/16/2008 9:40:25 AM  Ignore Brockvillian Report Abuse
I'd like to know too.
Sealer
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Charleston

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Message Posted: 5/16/2008 9:39:22 AM  Ignore Sealer Report Abuse
Please, not another congressional inquiry into how capitalism works. Why do they continue to wate my tax money on these "investigations?" Why can't we just send them to an economics course where they get a final exam and a grade. They don't seem to learn anything without that.
bar1035
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North Carolina

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Message Posted: 5/16/2008 9:36:59 AM  Ignore bar1035 Report Abuse
and since fuel taxes are a percent of the price...the higher the price the higher the taxes. Hence no incentive for more drilling or investigating or anything else
analogk
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Massachusetts

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Message Posted: 5/16/2008 9:36:44 AM  Ignore analogk Report Abuse
As usual, they will pretend to do something until the market stabilizes by itself and then they'll take credit for it.
Laser917
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Minnesota

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Message Posted: 5/16/2008 9:34:38 AM  Ignore Laser917 Report Abuse
"deeper look" does that mean a deeper hole for us to dig out of?
Rajah
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Illinois

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Message Posted: 5/16/2008 9:32:11 AM  Ignore Rajah Report Abuse
We don't need "deeper looks", we need some "Deeper action".
rvnvet70
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Michigan

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Message Posted: 5/16/2008 9:31:01 AM  Ignore rvnvet70 Report Abuse
Just another run a round.
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