“President Joe Biden is asking the Federal Trade Commission to look into behavior from energy companies as prices at the pump hover around a seven-year high. In a letter to Chair Lina Khan Tuesday, Biden said there’s ‘mounting evidence of anti-consumer behavior by oil and gas companies.’ The letter noted that prices at the pump have remained high despite a decline in the price of unfinished gasoline. ‘This unexplained large gap between the price of unfished gasoline and the average price at the pump is well above the pre-pandemic average,’ the letter said. The letter added that the ‘two largest oil and gas companies in the United States’ – which are Exxon and Chevron based on market capitalization – are on track to almost double their net income compared with 2019 levels, while the two have also announced stock buybacks and dividend hikes” – CNBC.