In the wake of Hurricanes Harvey and Irma, U.S. Senate Minority Leader Charles Schumer is urging the federal government keep a close eye on gas prices.
Senator Schumer on Sunday called for the Federal Trade Commission to launch a “gouge watch” to prevent so-called “sticky” gas prices.
The New York Democrat said he wants to sure that gas prices that shoot up after large storm events come down just as quickly as they rose, as supply increases and demand stabilizes.
Schumer points out that 4.5 million barrels of federal oil reserves have been released since Hurricanes Harvey and Irma have receded. He says suppliers impacted by the storms are back on line.
On Sunday, AAA reported the average cost of a gallon of regular unleaded gasoline in New York was $2.81, 19 cents higher than the national average.