Attorney General Demands “Realistic Answers” to Gas Price Spike from Oil Industry

Oil industry explanations for the recent spike in gas prices have caught the attention of Illinois Attorney General Lisa Madigan and Chicago Mayor Rahm Emanuel, who are demanding realistic answers for the jump in costs at the pump.

Madigan and Emanuel have sent a letter to the Illinois Petroleum Council, asking for those answers.

A refinery outage in Indiana was blamed for the increases across the Midwest, but the Attorney General and Chicago’s mayor say that outage alone can’t explain the higher prices.

Crude oil prices have been below $50 per barrel since the middle of last year and have fallen below $40 per barrel in recent days… a level which previously brought $1.50 per gallon costs to drivers at the pump.

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