Durbin Wants Gas Price Probe
By Guy Tridgell
U.S. Sen. Dick Durbin is calling for a federal investigation into the record high cost of fuel.
In a letter sent today, Durbin asked the Federal Trade Commission to start looking into two trends he said are hurting consumers, commuters and air travelers.
Durbin said a spike in the price of jet fuel is making the airlines broke, resulting in higher air fares. In the last month, two Midway Airport carriers, ATA Airlines and Frontier Airlines, declared bankruptcy.
And soaring diesel costs are increasing shipping costs, which are reflected in supermarket prices.
He said transit agencies also are struggling to keep up. He said the Chicago Transit Authority is on a pace to exceed its fuel budget by $25 million this year.
Durbin called fuel prices the No. 1 issue in Illinois.
According to the AAA-Chicago Motor Club, the average cost for a gallon on unleaded gas in the Chicago area is $3.75. The average price per gallon for diesel is $4.37. Both prices are records.
"People can't understand why they are going up so high," Durbin said. "I have letters all over my desk from truckers who cannot make a living,"
The senator suggested that oil companies are making more money than ever at the expense of customers.
"The oil companies are reporting the highest profits in the history of any American business," he said.
The federal government previously has investigated spikes in the price of fuel. But the results, Durbin said, always came back "inconclusive."
He said the latest surge in prices is different because they threaten to put even more of a drag on sagging economy.
Also, because this is an election year, Congress is more likely to take steps to keep their constituents happy, he said.
Durbin is chairman of Appropriations Subcommittee in charge of overseeing the Federal Trade Commission.
He said he was awaiting a response from the commission.