The industry therefore takes strong issue with baseless, irresponsible allegations, made by some governmental officials, that companies have engaged or are engaging in either price gouging or collusion. Such charges are defamatory and do a disservice to the thousands of people involved in making certain that our nation's energy needs are met. Throughout the years there have been numerous similar charges and every single investigation has failed to find any merit to those charges. The gasoline market is a highly competitive market. Gasoline prices have risen in response to market conditions and the market will correct any imbalances in supply and demand.
Prices are the mechanism that allows market forces to work.
Market conditions have resulted in sharp price increases in some areas, and the market will operate to moderate those increases as additional supplies reach consumers. Consumers and others are understandably concerned about today's higher gasoline prices. Some people may be able to use less, but most people have little or no choice about using gasoline and how much they use. It's central to our way of life. However, what we are seeing today is a direct result of a government policy that imposes layer upon layer of uncoordinated regulations that not only drive up costs, but also take away the flexibility the industry needs to respond to new demands.