Barbara Boxer: “gasoline prices on average in California are $2.15 per gallon. According to the U.S. Energy Information Administration…”

“gasoline prices on average in California are $2.15 per gallon. According to the U.S. Energy Information Administration, EIA, the cost of crude oil rose 16.4 percent from January 6 to March 3. During the same time period, the average retail price of gasoline rose 27.2 percent. After seeing the statistics, I do not buy the argument that higher gasoline prices are due solely to higher crude oil prices. I am concerned that oil companies have been pocketing more profits as consumers pay record high gas prices. I have been advised of news reports that refiners are taking more plants than usual offline for 'routine maintenance.' This is reminiscent of the electricity crisis when generators took their plants off-line for 'routine maintenance' at a rate higher than normal. We now know that these generators were holding back electricity to artificially increase the price of electricity. In response to soaring gas prices across the country and especially in California and in response to potential manipulation, I am introducing legislation to shed light on the situation and hopefully curtail future market manipulation.”