Oregon gas prices fall as market rigging suspicions rise

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Wednesday, June 13, 2012

The average price of gas in Oregon fell 13 cents in one week, raising suspicions of market rigging.

Robert McCullough, the Portland analyst who helped topple Enron over predatory electricity trading a decade ago, has issued a report arguing that gasoline prices should have never reached this spring's dizzying, budget-draining heights.

Late Tuesday, U.S. Sen. Ron Wyden, D-Ore., joined Washington's Maria Cantwell in calling for a federal investigation into the spring's run-up in Northwest gas prices.

“Market forces do not fully explain the extremely high gas prices being charged to West Coast consumers in recent months,” Wyden said in an email. “I continue to believe that the oil markets are being driven by factors beyond supply and demand."

Read more at OregonLive.com.

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