Marketplace®

Daily business news and economic stories

BP accused of price fixing . . . again

British oil giant BP says it could face charges of price fixing futures in the unleaded gasoline market. Stephan Beard reports.

TEXT OF STORY

DOUG KRIZNER: British oil giant BP is in the hot seat again. The company says it could face charges of price fixing. This time in unleaded market for gasoline. From London, Stephan Beard reports.


STEPHEN BEARD: BP has already been accused of trying to corner the propane market as well as massage crude oil prices.

Now the company says it could be facing legal action on yet another front: A U.S. futures regulator has alleged that BP manipulated the price of unleaded gasoline.

The allegations relate to trading on one day four years ago. A

All this reflects a general concern in Congress about alleged energy market manipulation, but Carola Hoyos of the Financial Times does not believe there is a major problem here.

CAROLA HOYOS: Anytime the oil price is high, or the electricity price is high, or the gas price is high, Congress worries about these things. And so I’m a little cynical about this. I think there’s a really good dash of politics involved here.

BP has strongly denied any improper trading in the unleaded gasoline market.

In London, this is Stephen Beard for Marketplace.

Related Topics

Tagged as:

Latest Episodes

View All Shows
  • Marketplace
    10 hours ago
    25:19
  • Make Me Smart
    16 hours ago
    19:00
  • Marketplace Morning Report
    18 hours ago
    6:55
  • Marketplace Tech
    a day ago
    8:33
  • This Is Uncomfortable
    3 days ago
    56:05
  • Million Bazillion
    24 days ago
    32:45