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FINWIRES

California Fuel Watchdog Issues Subpoenas To Gas Stations Over High Prices

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-- California's fuel watchdog has issued subpoenas to gas stations charging unusually high prices and failing to cooperate with inquiries, Bloomberg reported on Tuesday.

The Division of Petroleum Market Oversight said it was targeting retailers whose "high prices may not be justified by increases in their input costs."

"We were concerned that some retailers might use the conflict as a pretext to inflate their retail prices," DPMO Director Tai Milder said, adding, "we saw something similar happen after the Ukraine invasion," the report said.

Milder said stations contacted by the agency cut prices by "50 cents-a-gallon or more," according to Bloomberg.

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