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Automotive News Archive31-May-2006FTC Finds No Widespread Gas Price Gouging The Federal Trade Commission has reported only 15 examples of gasoline price gouging after Hurricane Katrina and the agency says there is no widespread effort by the oil industry to illegally manipulate prices, a finding Public Citizen said "defied belief." Gas Prices Holding Steady The good news is that the Memorial Day start of the summer driving season did not drive up gasoline prices. One-Third of Consumers Looking at More Fuel-Efficient Cars Thirty-seven percent of consumers say gasoline prices are so high they are looking at replacing their current vehicles with more fuel-efficient vehicles, mainly hybrid models, according to the latest Consumer Reports Auto Pulse Survey conducted this month. Florida Sues Pandhandle Gas Stations The state of Florida is suing two Panhandle companies and three individuals for conspiring to fix gasoline prices over the past several years, resulting in inflated gasoline prices. The complaint cites actions that are "immoral, unethical and unscrupulous." Chrysler to Step Up Flex Fuel Production Chrysler plans to increase production of ethanol-ready models in response to higher gasoline prices. Gas Prices Hold at Just Under $3 a Gallon Gasoline prices are holding at just under $3 a gallon throughout most of the country but may be trending down soon, according to the newly released Lundberg Survey. Exxon Mobil Reports 14% Increase in Earnings Exxon Mobil reported quarterly earnings rose to $8.4 billion, up from a year earlier but down from the fourth-quarter's record level, on revenue of $88.98 billion. Along with other oil companies, it faces scrutiny as it thrives on high energy prices and robust global demand. Cell Phones Cleared in Gas Fires Some say reports of cell phones starting gasoline fires are just an urban myth. They may be right. Consumers Adjusting to Higher Prices at the Pump While consumers have seemed resilient in the face of higher energy costs, a tipping point may soon be in sight. California Challenges Bush on Fuel Standards California Attorney General Bill Lockyer has filed a lawsuit challenging the Bush Administration's new fuel economy standards for SUVs and light trucks, alleging the rules fail to address the effects on the environment and global warming.
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