State Senator Thomas A. Colapietro
August 17, 2009
Colapietro Asks Attorney General to Investigate Escalating Gas Prices
Argument that pump price it tied to the cost of crude not holding water
State Senator Thomas A. Colapietro, Senate chair of the General Assembly’s General Law Committee, today asked Attorney General Richard Blumenthal to investigate why the cost of gasoline at pumps across Connecticut is going up while the price of a barrel of crude oil remains down.
“I do not like being at the mercy of the gas pump, and I’m sure there are plenty of folks who feel the same,” Senator Colapietro wrote in a letter to the attorney general today. “I cannot explain why a drop in crude prices is not reflected at the pump, and I have concerns that consumers could be facing price gouging when they fill up their tanks.”
Senator Colapietro wrote, “The increase in gas prices we’ve seen over the last couple of weeks goes against the logic that we’ve heard over the past few years, that the cost of gas is dependent on the price of a barrel of crude oil. While a comparison of gasoline rack prices and closing costs for a barrel of crude oil seem to be in-line with this logic, it’s been my experience that the drop in crude prices is not being reflected at the pump.”
Crude oil closed at $67.51 on the New York Mercantile Exchange on Friday, August 14. According to AAA, the average price for a gallon of regular gasoline in Connecticut today is $2.807.
“Consumers are being told — not asked — to bear the brunt of this financial crisis,” Senator Colapietro wrote. “I personally think it’s unfair that rates are being increased on virtually everything when consumers are having their paychecks held at no increase.”
Download Senator Colapietro’s letter to Attorney General Richard Blumenthal.
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