On Friday, July 28, the Federal Trade Commission (FTC) issued an interim report on its Midwest gasoline price investigation – an investigation that First District Congressman Paul Ryan and other Members of Wisconsin's congressional delegation had requested in June.

According to the FTC report: "The staff's initial inquiry suggested several factors as potential contributors to Midwest gasoline price spikes." Among these, the report cited the reduced global supply of crude oil, the introduction of EPA Phase II regulations for summer-blend reformulated gasoline in high ozone urban areas, and the break in the Explorer pipeline in March. The FTC went on to state: "Although it is likely that each of these supply factors contributed to the dramatic recent price spikes in the Midwest, no single factor appears from staff's preliminary investigation to be likely to provide a full explanation, and staff does not yet have sufficient information to assess the impact of these factors in combination."

The FTC said its investigation into the possibility of collusion and other possible causes of the Midwest price spikes "is likely to consume, at a minimum, another three or four months." The interim report noted that the Commission has issued subpoenas to refiners as well as to the entities that own or control the pipelines serving the Midwest markets. It also stated: "At this point, no conclusions, however tentative, have been reached."

To obtain a copy of the interim report or to schedule an interview with Congressman Ryan, please contact Kate Dwyer at (202) 225-3031.