The Federal Trade Commission said yesterday it found no evidence of gas price gouging following Hurricanes Rita and Katrina, reports the Washington Times. The FTC, for the report, defined price gouging as “any finding” that the average price of gasoline in designated disaster areas in September was higher than in August for reasons other than rising production or transportation costs or national or international market trends. “When you see them responding to prices going up by producing more, that’s a hallmark of competitive behavior,” said Louis Silvia, assistant director of the commission’s Bureau of Economics.
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