Portman and other members of Ohio's Congressional delegation met with Federal Trade Commission (FTC) Chairman Robert Pitofsky to review the status of the FTC's investigation into rising Midwestern gas prices. 

"The cost of gasoline in Southwest Ohio is too high, and it just doesn't make sense for gas prices in the Midwest to be so different from other parts of the country," said Portman.  "The FTC investigation should help us understand the spike in fuel prices in Ohio, but Congress should not stand pat while this investigation is underway."

A recent Congressional Research Service study of gas prices in the Chicago-Milwaukee area cited several factors, including:  higher crude oil prices; operational problems with two major pipelines that serve the Midwest; and, significantly, the effect of EPA's regulations that require the use of more expensive reformulated fuel.

Portman noted that consumers in Southwest Ohio may be paying for the cost of the EPA's reformulated fuel regulations even though EPA air quality regulations do not require the use of reformulated gasoline in our area.  He has asked the FTC and the Congressional Research Service to investigate the impact of these new EPA regulations on fuel prices.

"A number of factors may be at work in producing these outrageous gas prices," said Portman.  "One factor is the cost of reformulated gasoline regulations required by the EPA.  These regulations have driven up the overall cost of refining gasoline, and those costs may be unfairly passed along to consumers in Southwest Ohio -- even though we do not have to use reformulated fuel in our region."

He also urged Congress to take steps to reduce the cost of gasoline in the short-term.  Portman is supporting a  suspension of the 4.3 cent per gallon federal gas tax hike signed into law by President Clinton in 1993.  "Obviously, it won't completely offset the rise in gas prices, but it will give all consumers a break during the summer driving months," said Portman.

Finally, Portman noted that the long-term solution to gas prices is a more comprehensive energy policy.  "Over the last seven years, the Clinton-Gore Administration has failed to deal strongly with OPEC and failed to take steps to boost domestic oil production.  At a time when we're importing more than half the oil we use from foreign sources, we need a more proactive and effective energy policy.  Let's make reducing our dependency on foreign oil -- through research and new technologies -- a top national priority."