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Senator McCaskill Seeks Relief for Missourians From Surging Propane Costs

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NEWS RELEASE ISSUED JANUARY 29, 2014 BY THE OFFICE OF U.S. SENATOR CLAIRE MCCASKILL (MO.)

McCaskill Seeks Relief for Missourians From Surging Propane Costs

As Missourians continue to face frigid temperatures, Senator demands answers on dramatic spike in propane prices

WASHINGTON – Following a week in which thousands of Missourians saw their propane costs nearly double, U.S. Senator Claire McCaskill has called on one of the nation’s top consumer protection agencies to investigate the recent spike in propane prices.

McCaskill, Chairman of the Subcommittee on Consumer Protection, demanded that the Commodity Futures Trading Commission (CFTC)—a federal agency designed to protect consumers from fraud and abusive practices associated with market speculation and manipulation—examine whether normal market forces are causing the dramatic spike in propane prices, or if opportunistic trading and price manipulation are at play.

“Millions of Americans are being forced to wonder how they will heat their homes while making the mortgage payment and putting groceries on the table,” McCaskill said. “Given the CFTC’s prior findings of manipulation in the propane market, it is critical that the government continue to ensure rural Americans that they not being harmed by opportunistic trading and price manipulation. As such, I request the CFTC investigate the propane market in the Midwest and ensure that any supply shortages or price increases are not due to harmful manipulation.”

A copy of McCaskill’s letter is available online HERE.

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