Gas prices, explained

Sen. Herbert Kohl didn’t beat around the Bush when the Senate Judiciary Committee grilled U.S. oil company executives Tuesday on the price of gasoline and other fuels. How, the Wisconsin Democrat asked, can oil companies be paying higher prices for oil and still make record profits?

The senators weren’t buying all that. Sen. Arlen Specter, R-Pa., said he plans to consider legislation to strengthen anti-trust laws and to make it illegal to delay refining crude oil or divert gasoline to create an artificial shortage, as some refineries have been accused of in the past.

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