US DOJ and FTC Warn Oil Volatility Does Not Suspend Antitrust Laws
The U.S. Department of Justice and the Federal Trade Commission have reminded state officials that recent crude oil price swings do not override antitrust or consumer protection laws, and do not permit price manipulation or collusion.
In a joint letter to state officials reviewed by CBS News, the U.S. Department of Justice and the Federal Trade Commission stated that the recent volatility in crude oil prices does not suspend federal antitrust or state consumer protection laws.
The agencies emphasized that companies are not authorized to manipulate retail prices or collude with competitors under the cover of market fluctuations. The letter serves as a reminder that existing legal frameworks remain in force despite temporary price turbulence in the energy sector.
Source: First Squawk