WASHINGTON - U.S. Attorney General Eric Holder announced last week the formation of an Oil and Gas Price Fraud Working Group that will focus on making sure consumers are not victims of price gouging.

"Rapidly rising gasoline prices are pinching the pockets of consumers across the country," said Holder. "We will be vigilant in monitoring the oil and gas markets for any wrongdoing so that consumers can be confident they are not paying higher prices as a result of illegal activity. If illegal conduct isresponsible for increasing gas prices, state and federal authorities shouldtake swift action." ?? ??

The working group will include representatives from the Department of Justice, the National Association of Attorneys General, the Commodity Futures Trading Commission, the Federal Trade Commission, the Department of the Treasury, the Federal Reserve Board, the Securities and Exchange Commission, as well as the Departments of Agriculture and Energy. ?? ??

The Oil and Gas Price Fraud Working Group will explore whether there is any evidence ofmanipulation of oil and gas prices, collusion, fraud or misrepresentations at the retail or wholesale levels that violates state or federal laws and harms consumers or the federal government as a purchaser of oil and gas. The group will also evaluate developments in commodities markets and examine investorpractices, supply and demand factors and the role of speculators and index traders in oil futures markets.