Gas prices are high. This is an election year in the US. Here comes the politics.
President Bush, under pressure to do something about gasoline prices that are expected to stay high through the summer, ordered an investigation into possible cheating in the markets. The government also asked states on Tuesday to guard against unfair pricing.
During the last few days, Bush asked his Energy and Justice departments to open inquiries into whether the price of gasoline has been illegally manipulated, said White House press secretary Scott McClellan. Bush planned to announce the action Tuesday during a speech in Washington.
It's unclear what impact, if any, Bush's investigation would have on prices that are near or at $3 a gallon or more. Asked if Bush had any reason to suspect market manipulation, McClellan responded, "Well, gas prices are high right now, and that's why you want to make sure there's not."
Republicans who control Congress have become concerned that the high cost of filling up could become a problem for them in the November elections. Polls suggest that voters favor Democrats over Republicans on the issue, and Bush gets low marks for handling gasoline prices.