U.S. Energy Secretary: No Price Gouging from Oil Industry

05/10/96

Reuters reported that Hazel O'Leary, head of the U.S. Department of Energy, has announced that she has not seen any evidence of gas price gouging by the oil industry. The Justice Department continues to investigate whether the recent spike in oil prices can be attributed to anticompetitive activities.

Charged with the duties of analyzing why recent gas prices have risen so much and reporting back to the white House, O'Leary appeared before the Senate Energy Committee. O'Leary said that she expects gas prices to fall in the coming moths. She also predicted that Iraq would be selling oil on the international market within the coming months.

Paul Dever -- The Auto Channel